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Philippines: Car imports decline 43%
MANILA, Philippines — Car importers sold 43 percent less in 10 months this year as all vehicle segments registered fewer demand amid the pandemic.
The Association of Vehicle Importers and Distributors Inc. (AVID) said in a statement yesterday it sold 40,993 units as of end-October, lower than the 71,362 units in the same period last year.
But as vehicle sales went up nine percent month-on-month in October, car importers are still aiming for a strong fourth-quarter finish.
Passenger car (PC) sales dropped 46 percent to 13,523 units in the 10-month period from 25,200 units the previous year.
In the light commercial vehicle (LCV) segment, sales went down 40 percent to 27,209 units in the January to October period from 45,434 units a year ago.
CV sales also slowed 64 percent to 261 units as of end-October from 728 units last year.
In October alone, AVID’s total vehicle sales reached 6,120 units, higher than the 5,594 units in September.
While PC sales dipped 10 percent in October to 1,791 units from 1,990 units in September, LCV sales rose 20 percent to 4,291 units and CV sales went up 27 percent to 38 units.
“We are off to a good start in the last quarter of the year and we aim to continue this revival. Businesses are reopening and travel and tourism are resuming. These activities require mobility and a strong and healthy auto industry will set the course for economic recovery,” AVID president Ma. Fe Perez-Agudo said.
While the pandemic brought challenges to business operations, she said the automotive industry has been quick to adapt to the new normal.
“So now you can buy a car online, have it delivered to you without face-to-face contact, and do contactless pickups and drop-offs at service locations for your after-sales needs. The industry has come a long way in such a short time and this has been a boon to consumers,” she said.
Source: https://www.philstar.com/business/2020/11/18/2057602/car-imports-decline-43