THE Association of Vehicle Importers and Distributors (AVID) saw its 2018 sales plunge 17 percent to 88,700 units from year-earlier with 106,285 units sold on the back of high inflation, rising borrowing costs, oil price hikes and tax increase.“Full year 2018 AVID sales recorded 88,700 units sold amidst unfavorable economic condition,” AVID President Ma. Fe Perez-Agudo said in a statement on Friday.The passenger car (PC) segment—which comprises 35 percent of the total sales—recorded a 22-percent decline with 30,960 units sold in 2018 from 39,721 units the previous year.The local commercial vehicles segment’s sales slipped 14 percent to 57,027 units against 66,564 units sold last year.The commercial vehicle segment, meanwhile, sold 713 units last year, said JAC Automobile International Philippines.
