The Association of Vehicle Importer and Distributors, Inc. (AVID) closed 2016 with unit sales at 93,179 for a 60% increase compared to 2015’s 58,256 units. Hyundai Asia Resources, Inc. (HARI) led AVID’s 10-member pack with 33,695 unit sales for both passenger cars and light commercial vehicles by year-end.
The 60% growth for 2016 reflected the year-end sales of both the passenger cars (PC) and light commercial vehicle (LCV) segments, with the former at 35,770 units compared to 2015’s 22,316 while the latter had 57,409 units as opposed to 2015’s 35,940. AVID attributed the brisk sales shown by the LCV segment to the low oil prices of the petroleum market.
For the 4th Quarter, PC sales totaled 9,341 units--a 40% increase over 2015’s sales of 6,664 units for the same period, with HARI accounting for 6,063 units. LCV sales for the same period totaled 15,093 units for a 19% bump over 2015’s 19,374 units, with Ford Philippines making up the most at 8,399 units.
“2016 was indeed a banner year for the automotive industry as AVID sales surged with an impressive 60% growth,” said AVID President Ma. Fe Perez-Agudo in a statement. “As such, AVID looks forward to 2017 with limitless possibilities and opportunities, as we continue to delight the Filipino market with an array of innovative and value-laden products and services.”