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Manila Bulletin devider Business devider AVID bounces back with 43% growth in 7 months

AVID bounces back with 43% growth in 7 months

Published Aug 20, 2021 12:28 pm

Sales of the Association of Vehicle Importers and Distributors, Inc. (AVID) saw an increase of 43 percent in the first seven months of 2021, despite negative growth in July.

AVID logo-2

Based on its report, the importers' group recorded total sales of 35,092 units in the January-July period this year compared to 24,610 units sold in the same period last year.

However, the July sales contracted 5 percent from 5,101 units sold last year to 4,862 units in July this year. The July sales also dipped 2 percent from the 4,961 units recorded from the previous month. Despite this, AVID’s performance reflects the industry’s overall improvement amidst the pandemic.

Light Commercial Vehicles (LCV) hold the lion’s share with 72 percent of total industry sales. LCV sales surged by 52 percent in the first seven months of 2021 from 16,561 units in the first seven month of 2020 to 25,127 units sold in the same period this year. Ford continues to lead the segment with 10,343 units sold; Suzuki with 7,076 units; and while Hyundai with 3,177 units sold.

Commercial Vehicles (CV) dominates, maintaining the highest sales growth of 448% YTD. Hyundai strongly fuels this segment with healthy sales from its trucks and buses. The brand is a huge contributor to nationwide efforts at modernizing Public Utility Vehicles (PUV). The Korean brand now totals YTD sales of 852 units, which is a significant improvement from 156 units sold in the same period last year.

The Passenger Cars (PC) segment sales continue its climb with 15 percent growth from 7,893 units sold in 2020 to 9,110 units this year. PC Segment vehicles experienced a year-on year drop of 27 percent and month-on-month decline of 5 percent. Suzuki still leads the segment with 4,559 units sold. Coming in second is Hyundai with 2,979 units sold.

“The gradual adaptation of the automotive industry to ‘now normal’ operations is mainly driven by the valuable lessons gathered and learned over the course of the period. These lessons fuel our passion for developing new and innovative ways to addressing the needs of the market. And AVID is determined to pave the way towards recovery,” said AVID President Ma. Fe Perez-Agudo.

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