MANILA, Philippines — Vehicle importers improved their performance in February as sales grew 12 percent from last year on improved consumer demand for automobiles. In a statement yesterday, the Association of Vehicle Importers and Distributors Inc. (AVID) said total sales from its members reached 7,876 units in February, up from 7,017 units a year ago. Sales in the light commercial vehicle (LCV) segment, meanwhile, climbed 22 percent to 4,905 units in February from 4,028 units last year. Initial indications point to the fact that the Philippine economy is poised for improved performance in 2019. Last year, total AVID sales dropped 17 percent to 88,700 units from 106,285 units in 2017 as higher taxes slapped on vehicles under the government’s tax reform program dampened demand.

Source: Philippine Star March 14, 2019 16:13 UTC