The Philippine automotive industry towered up in the first 3 months of 2017 with 10% sales growth as reported by the Association of Vehicle Importers and Distributors (AVID). Sold units reached 23,312 for the first quarter (Q1) of 2017, which is 2,152 more units compared to Q1 2016's sales output of 21,160.
AVID sales count by segment
Drawing the highest growth rate, the Passenger Cars (PC) segment achieved a 21% leap in sales for Q1 of 2017, as compared to the same period of last year. The segment sold 9,242 units, which is notably higher than last year's 7,609. AVID claims this is forefronted by Hyundai, which accounts to 64% of the entire PC sales of Q1 2017 with 5.968 units sold.
The Light Commercial Vehicle (LCV) segment posted a 4% Q1 sales inflate for 2017, in comparison to Q1 of 2016. With 14,070 units rolled out of the dealerships, It is reported that Ford led this segment for the group. With 7,586 vehicles sold, it is reflected to AutoDeal's top 3 most popular buys for March 2017. The Ecosport made it to the 1st spot, while the Everest was the most popular SUV purchased in our website.
AVID's top brands for Q1 2017
Hyundai Asia Resources, Inc. leads the group with 38% (8,841 units) market share. This can be attributed to the popularity of the Accent compact sedan that has been reported to lead HARI's sales for Q1 2017. This model continues its momentum from 2016, where it manage to enter AutoDeal’s 20 most inquired vehicle models.
Following the South Korean marque is Ford Group Philippines, Inc. with 33% (7,773 units), followed by Suzuki Philippines Inc. with 17% share (4,051 units). Chevrolet (TCCCI) earned the 4th spot with 6% share (1,308 units), while Subaru (MIPI) is at the 5th with 3% share (676 units).
Quite a sad exhibit but hey, at least now we know.
This is a good a time as any to get your hands on a Honda.
Details are still vague at this point, but we’re already excited.