Despite a 19.4% drop in light commercial vehicle (LCV) sales last September, The Association of Vehicle Importers and Distributors, Inc. (AVID) couldn't be more satisfied when it logged a 50% growth in its passenger car (PC) sales on a month-to-month basis. This shift translates to a 5% increase, or a total of 9,347 total units sold, compared to the same period last year and was largely driven by, get this, sales of Chevrolet, Hyundai, and Volvo, which are all operated and owned by the Lee's.
Sales of LCV's, which includes crossovers, vans, pick-ups and SUV's, dropped by 2% on a year-to-date basis mainly because of a supply setback. Still, this decline fairs better than the total industry's 3% downturn. With this strong overall performance, AVID maintains its 15% market share of the Philippine automotive industry amidst supply limitations, and global and domestic economic uncertainties.