The Association of Vehicle Importers and Distributors Inc. (AVID) yesterday reported sales in the first three quarters of the year fell 46 percent to 34,977 units from 64,274 units in the same period in 2019 on soft demand due to the pandemic.
In a report, the group reported third quarter sales soared 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.
“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,” said Ma. Fe Perez-Agudo, AVID president.
The passenger cars segment grew by 260 percent in quarter-on-quarter sales with 5,622 units sold in the third quarter versus the 1,561 units sold in the second quarter. 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 segment, AVID recorded 91 percent growth in the third quarter 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.