AVID sales regain momentum with 26% growth

Published October 20, 2021, 6:14 PM

by Bernie Cahiles-Magkilat

The Association of Vehicle Importers and Distributors, Inc. (AVID) continued to recover with 26 percent increase in sales, year-to-date (YTD), for total sales of 43,957 units as against 34,980 units sold in the same period last year.

AVID President Ma. Fe Perez-Agudo

Likewise, sales in September by the all traders’ group picked up by 26 percent to 4,946 units from 3,919 units compared to last month.

The Commercial Vehicles (CV) segment takes the lead with a 311 percent surge (YTD). Hyundai trucks and buses have been on a roll, capturing 98 percent of total AVID CV sales. The Korean brand sold 906 units YTD, which is a significant improvement from the 223 units sold in the same period last year.

Next in line are the Light Commercial Vehicles (LCV) which maintained 72 percent share of AVID sales for the first nine months of this year. Year-to-date, LCV sales consistently improved by 37 percent, from 23,007 units sold in 2020 to 31,444 units sold in the same period this year. Ford consistently leads the segment with 13,258 units sold, followed by Suzuki with 8,677 units, and Geely with 3,818 units sold.

Passenger Cars (PC) slightly slowed down by 1 percent from 11,750 units sold in 2020 to 11,596 units this year. The PC Segment was the most hard-hit by the recent lockdown, with a year-on-year (YoY) drop of 28 percent. Nevertheless, the segment recovered from last month’s drought, growing by 36 percent. Suzuki sold 5,768 units, followed by Hyundai with 3,829 units sold.

“We have weathered the volatile market conditions of the third quarter. With improving health conditions and a more stable outlook, AVID is optimistic and driven to wind up this last quarter on a strong note,” said AVID President Ma. Fe Perez-Agudo.