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Manila Bulletin devider Business devider Imported cars' sales sustain recovery in Q3

Imported cars' sales sustain recovery in Q3

Published Oct 14, 2020 04:31 pm

The Association of Vehicle Importers and Distributors, Inc. (AVID) continues its robust revival with a whopping 212 percent increase in sales, from 4,955 units sold in the second quarter of the year to 15,471 units sold in in the third quarter.

AVID President Ma. Fe Perez-Agudo

AVID President Ma. Fe Perez-Agudo said attributed the dramatic recovery to the industry’s rapid transformation to digital transactions, best value promotions, and stringent health and safety protocols in automotive facilities nationwide are major factors in the recovery of consumer confidence.

“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 customer’s imagination. This will put us in a great position as we start afresh in 2021,” Agudo said.

Based on the AVID sales data, the passenger cars (PC) segment grew by 260 percent in quarter-on-quarter sales with 5,622 units sold in Q3 versus the 1,561 units sold in Q2. Demand for sedans remain as consumers are looking for safe and affordable personal mobility. Hyundai, the top contributor of passenger cars, reported a total of 6,244 units since the beginning of 2020 followed by Suzuki with 4,069 units and Ford with 825 units sold.

In the light commercial vehicles (LCV) segment, AVID recorded a 192 percent growth in quarter-on-quarter sales with 9,763 units sold versus the 3,349 units the previous quarter. Ford leads this segment with 8,539 units sold while Suzuki holds second place with 6,422 units followed by Hyundai with 5,879 units sold since the start of the year.

In the Commercial Vehicles (CV) segment, AVID recorded 91 percent growth in the 3rdquarter with 86 units sold. The gradual reopening of the economy and resumption of key government projects is seen to spur more demand for commercial vehicles.

Year to date, however, sales still remained negative 45.6 percent from 64,274 units sold in 2019 to 34,977 units in the same period this year.

“There will never be a return to business as usual," said Agudo. "We are redefining the industry’s new normal--call it a better normal. Even if the customer journey has radically changed, one thing remains constant for us: the commitment to give our customers the premium value, care, and attention that they deserve, in and beyond pandemic times."

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