Q1 2017 vehicles sales up 10%

Vehicle sales grew up 10% in Q1 2017

Updated Apr 17, 2017 | Same topic: Latest Consumer Reports

AVID has posted a notable increase in vehicle sales in Q1 2017 with 23,312 units sold versus the previous year’s 21,160.

The Association of Vehicle Importers and Distributors (AVID) closed the first three months of 2017 on a high note as Q1 2017 saw a 10% increase over the same period last year. The continued increase in vehicle sales is largely credited on the continued strong customer appetite for vehicles.

In detail, Q1 2017 saw a total of 23,312 vehicles sold, up from 21,160 cars last year. AVID adds that Hyundai Asia Resources Inc. (HARI) topped the chart with a record of 8,841 units sold, the largest sales volume for an individual importer.

>>> View more: March 2017 vehicle sales: the highest monthly output in Hyundai PH’s history

Hyundai Asia Resources Inc. (HARI) topped the chart with a record of 8,841 units sold

“Riding on sustained demand in the automotive market, Avid’s sales growth story continues its upward trend as it picked up by 10 percent for the three-month period in 2017. This encouraging response further drives Avid to deliver top-notch products and services to our customers,” said Ma. Fe Perez-Agudo, President of ADVID and HARI.

For the first quarter of 2017, the passenger car segment grew by 21% or a total of 9,242 units sold from 7,609 units sold a year earlier. The group’s impressive performance is spearheaded by Hyundai which sold 5, 986 units.

As for the light commercial vehicle (LCV), AVID said that the segment posted a total unit sales of 14,070 in the first quarter, a 4% increase compared with 13,551 units sold a year ago. Atop the chard is Ford PH which recorded 7,586 units sold (more than half of the volume share).

Atop the chard is Ford PH which recorded 7,586 units sold

>>> View more: Ford’s overall sales continue free-fall in March 2017

Meanwhile, HARI sold 3,371 vehicles last month alone, which is the highest monthly output in the marque’s 15-year history. For the first quarter, HARI posted a total of 8,841 units sold, an 18% increase over last year’s 7,469 units sold.

Many believe that household spending remains vigorous. This augurs well for the auto industry as it is seen to make a more consumer-centric market with its best-in-class vehicles and services.