Tuesday, May 3, 2016
AVID Sales Surge 151 Percent in Q1 2016
The Association of Vehicle Importers and Distributors (AVID) posted 151 percent growth in Q1 2016 against the comparable period last year, bringing the year-to-date sales tally to 21,160 units.
Sales of Passenger Car (PC) segment increased by 81 percent 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 percent, led by Hyundai with 5,186 units sold.
The Light Commercial Vehicle (LCV) segment, on the other hand, significantly went up by 220 percent 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 percent with Ford taking the largest share of this expansion.