Tuesday, April 22, 2014

AVID Finishes Q1 with 13 Percent Growth

The Association of Vehicle Importers and Distributors (AVID) saw its sales accelerate by 19% in March to a total of 3,189 units versus February sales of only 2,675 units. The group’s laudable growth for the month was equally boosted by the solid performance from both the Light Commercial Vehicle and Passenger Car segment.

The LCV front performed exceptionally well in March with total sales of 1,621 units, reflecting double-digit growth of 19%. Leading the LCV onslaught was the 57% month-on-month increase in LCVs sold by CATS Motors followed by the 33% March sales growth posted by Volvo. Year-to-date LCV sales marked total sales of 4,497 units, 13% higher than year-ago levels. Meanwhile, the Passenger Car segment also enjoyed 20% growth ending the month with total sales of 1,568 units versus the 1,311 units sold in February. The month’s laudable performance pushed year-to-date sales by a massive 13% to 4,558 units.

With the strong showing from both segments in March, AVID’s year-to-date sales hit marked a remarkable uptick in the first quarter, growing by 13% from last year’s 7,990 units to a total of 9,055 units.

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