Vehicle importers in the country posted a 17-percent drop in sales in to 88,700 units in 2018 from 106,285 units during the previous year. The Association of Vehicle Importers and Distributors (AVID) reported that sales of both passenger car and light commercial vehicle segments were down last year by 22 percent and 14 percent, respectively.
AVID members sold a total of 30,960 units of passenger cars last year from 39,721 units in 2017.
Light commercial vehicle sales slowed down to 57,027 units last year from 66,564 units in 2017.
AVID President Ma. Fe Perez-Agudo cited headwinds that challenged the market last year such as the high inflation rate, rising borrowing costs, increasing oil prices, and the new excise tax on automobiles.
Despite the decline last year, the vehicle importers’ group is optimistic about its outlook for 2019, as the economy is expected to grow above 6 percent, inflation is seen to slow down, and the central bank is projected to loosen its monetary policy.
With this, AVID forecasts the industry to grow by 10 percent this year.
“With new product launches and economic pressures seen abating moving forward, AVID expects that the industry will recover from the sales slump in 2019,” Perez-Agudo added. (PNA)
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against
Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
