MANILA – The Association of Vehicle Importers and Distributors (AVID) reported that sales of its declined by 13 percent to 65,917 units in January-September this year from 75,949 units sold during the same period in 2017.
“AVID sales hit 65,917 units sold in the first nine months of the year as consumer vehicle demand is tempered by the rising commodity prices and interest hikes,” AVID President Ma. Fe Perez-Agudo said in a statement Tuesday.
Passenger cars’ sales from January to September this year declined by 20 percent to 23,531 units from 29,266 units this segment sold in the same period last year.
Likewise, sales of light commercial vehicles slipped by 10 percent in the same period to 41,808 units this 2018 from 46,683 units in 2017.
“Amidst the headwinds, AVID retained its rosy outlook that its wave of new product launches and customer-focused service offerings will augur well for the automotive industry,” Perez-Agudo added.
AVID also reported that the group posted an 18-percent decrease in sales of vehicles for the third quarter alone, recording a total sales of 22,774 units from 27,605 unit sales in Q3 2017. PNA-northboundasia.com