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)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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