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Philippines: Imported vehicle sales down 46%
MANILA, Philippines — Sales of car importers dropped 46 percent in the nine months to September as all vehicle segments posted declines, the Association of Vehicle Importers and Distributors Inc. (AVID) said.
Although sales surged 212 percent on a quarter-on-quarter basis, the group is hopeful the automotive industry will continue to see improvement in the last quarter of the year and bounce back.
AVID said it sold 34,977 units from January to September, lower than the 64,274 units in the same period a year ago.
As of end-September, AVID sold 11,747 passenger cars (PCs), 48 percent lower than the 22,654 units the previous year.
The group’s light commercial vehicle (LCV) sales also fell 44 percent to 23,007 units in the nine-month period from last year’s 40,933 units.
AVID’s CV sales posted a bigger drop of 68 percent to 223 units during the period from 687 units a year ago.
Meanwhile, AVID’s sales jumped to 15,471 units in the third quarter from 4,955 units in the second quarter as all segments saw huge increases.
PC sales grew 260 percent to 5,622 units in the third quarter from 1,561 units in the second quarter on higher demand for sedans as consumers look for a safe and affordable way to move around.
AVID’s LCV sales rose 192 percent to 9,763 units in the third quarter from the second quarter’s 3,349 units.
CV sales were up 91 percent to to 86 units in the July to September period from just 45 units the previous quarter.
With the further reopening of the economy and resumption of government projects, AVID said it expects more demand for CVs.
AVID president Ma. Fe Perez-Agudo said while there may never be a return to normal, she said the group is committed to continue to cater to customers’ changing needs.
To help bring back consumer confidence, AVID said it has been using digital platforms, offering promos, as well as putting in place health and safety protocols in automotive facilities.
“We had to restore consumer confidence quickly and decisively so the auto industry could get back on track and bounce back strong. We aim to sustain this momentum till the last quarter of the year as we continue to reinvent ourselves, innovate, and capture our customers’ imagination.
This will put us in a great position as we start afresh in 2021,” Agudo said.
Source: https://www.philstar.com/business/2020/10/15/2049590/imported-vehicle-sales-down-46