The Association of Vehicle Importers and Distributors (AVID) posted 151% growth in Q1 2016 compared to the first quarter last year, bringing the year-to-date sales tally to 21,160 units.
Passenger Car (PC) segment sales increased by 81% with 7,609 units sold in Q1 2016 versus the 4,205 units sold recorded in Q1 2015. Quarter-on-quarter figures also grew by 13%, led by Hyundai with 5,186 units sold.
The Light Commercial Vehicle (LCV) segment, on the other hand, significantly went up by 220% to 13,551 units in Q1 2016 compared to the 4,229 units from the same period last year. In terms of quarter-on-quarter sales performance, the group picked up by 4% with Ford taking the largest share of this expansion.
“As the Philippines continues to be Asia’s bright spot, AVID registered a triple-digit growth of 151% in Q1 2016. This growth will further motivate AVID to give customers value-laden and pioneering products and services, which drive at the hearts of the Filipino people.” – Ms. Ma. Fe Perez-Agudo, President, Association of Vehicle Importers and Distributors, Inc. (AVID)