Local Car Distributors Breach 100,000 Units Sales Mark for 2017
The Association of Vehicle Importers and Distributors (AVID) sales closed 2017 on a positive note as it recorded sales growth across all comparable periods, propelled by the strong consumer appetite ahead of the Tax Reform for Acceleration and Inclusion (TRAIN) law implementation. AVID sales delivered 106,268 units sold in 2017 from the 93,192 units sold recorded last year. Q4 2017's 30,336 units sold was also higher than 2016's 24,438 units sold, posting a 24 percent quarter-on-quarter growth.
Total Passenger Car segment sales in 2017 of 39,722 units was 11 percent higher than the 35,782 units sold logged in 2016. The segment likewise posted a 12 percent gain to 10,455 units sold in Q4 2017 versus the 9,344 units sold in the same quarter last year. Hyundai remained as the top-volume brand in this segment as it ended 2017 with 25,529 units sold.
Accounting for the larger share of the total AVID sales, the Light Commercial Vehicle (LCV) segment notched a 16 percent year-to-date increase, bringing its 2017 total to 66,564 units sold from the 57,410 units sold a year earlier. From October to December 2017, the segment's sales surged to 32 percent, totaling 19,881 units sold. At the forefront of this segment, Ford posted 35,654 units sold.
"AVID sales capped a banner year in 2017 at 106,286 units sold, 14 percent higher than the 93,192 units sold in 2016," said AVID President Maria Fe Perez-Agudo. "For the year ahead, we remain optimistic as we expect short-run market adjustments resulting from the TRAIN. Nevertheless, the new automotive landscape opens waves of opportunities for the luxury, e-vehicles and hybrid vehicles market. Thus, AVID will continue supporting efforts to sustain inclusive growth and build a positive environment for business."