AutoIndustriya.com / Hyundai | January 26, 2018 13:14
Association of Vehicle Importers and Distributors sales increase by 14% for 2017
The Association of Vehicle Importers and Distributors (AVID) sales closed the year on a positive note as it recorded sales growth across all comparable periods. The group claims this was propelled by consumer demand due to the TRAIN implementation.
“AVID sales capped a banner year in 2017 at 106,286 units sold, 14-percent higher than the 93,192 units sold in 2016. 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,” said Ms. Ma. Fe Perez-Agudo, AVID president.
AVID group sales delivered 106,268 units sold in 2017 from the 93,192 units sold recorded last year, an increase by 14-percent. For the fourth quarter of 2017, they managed to have 30,336 units sold, higher than 2016’s 24,438 units sold, posting 24-percent quarter-on-quarter growth.
For the passenger car segment, sales in 2017 were at 39,722 units, which was 11-percent higher than the 35,782 units sold logged in 2016. The same segment also experienced a 12-percent gain in the fourth quarter. Hyundai sold the most in this segment as it ended 2017 with 25,529 units sold.
As for the Light Commercial Vehicle segment, it accounted for a larger share of AVID’s total sales, having a 16-percent year-to-date increase, bringing its 2017 total to 66,564 units sold compared to the 57,410 units sold in 2016. From October to December 2017, the segment’s sales surged to 32-percent with Ford being at the forefront of this segment, posting 35,654 units sold.