Vehicle sales are showing a downward trend due to the enhanced community quarantine and the COVID-19 pandemic.
The automotive industry is optimistic it can reach its goal of 10 percent for 2019
A total of 7,320 units were recorded by AVID, with the LCV segment shining the brightest in October 2019.
AVID recently reported that it was able to sell 50,164 units in the first seven months of this year. The sales numbers are lower than last year but it believes it can bounce back.
AVID continuous to venture greater success with significant gain during the first half of 2019.
AVID reported a 12.1% increase in April 2019's sales output and forecasts to keep the pace up.
AVID showed an 8% in sales for the month of March, with LCVs leading the growth figures.
AVID reports industry figures to give an idea on the performance of several segments in the industry.
AVID closed 2018 with a 17% drop in overall sales, where all segments suffered from notable economic changes.
AVID blames the continuous sales downslide to the blowing up inflation rate and fuel price hike.
The Association of Vehicle importers and Distributors, Inc. reports decline for the first half of 2018, pointing fingers to TRAIN Law and expensive fuel.
Hyundai PH remains unbothered though.
The Philippine automotive industry is booming, with the Association of Vehicle Importers and Distributors (AVID) reporting a 10% quarter sales growth compared to Q1 2016.
The Philippine automotive continues to go strong as it ends the year with a total of 417,356 vehicles sold – as reported by AVID, CAMPI, and TMA.
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