AVID Remains Optimistic Despite Slight Slowdown in Auto Sales for Q1 2018

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April 18, 2018

The first quarter of the year 2018 wasn’t just an opener for a brand new year. As many may know, the Tax Reform for Acceleration and Inclusion or TRAIN law is already in effect, thus raising the prices of goods such as automobiles and fuel. So how has this affected the industry?

The Association of Vehicle Importers and Distributors (AVID) noted a slight slowdown in sales for the first three months of 2018. The 22,758 units sold is down from the 23,317 cars and LCVs rolled out for the same period last year. This was due to the decrease in Passenger Car sales, which was down to 9,189 vehicles in Q1 2018 from 9,247 units in 2017. Hyundai led the charge, making up for 68% of total PC sales.

The same goes for the Light Commercial Vehicle segment, which saw 13,569 LCVs come out of dealer showrooms. This is down from last year’s 14,070. This was made up of 6,273 Ford vehicles—the highest in this category.

Of course, the year is only beginning. And AVID thinks that while this is a slight setback, other factors such as increased economic activity from the government’s Build, Build, Build program, among others, will help sustain growth in the automotive sector for 2018.

About the Author

Mr. Gerard Jude Castillo
Gerard has been a self-confessed car nut ever since he was a little boy. As a grown-up, he indulges in his passion by collecting toy cars (which he started since childhood) and reading up on the latest cars out there.  As Associate Editor, he will ensure that you get your fill of the latest cars in the market, as well as a load of automotive features.