The Association of Vehicle Importers and Distributors Inc. (AVID) was off to a strong fourth quarter with sales rising 9 percent in October to 6,120 units compared with 5,594 units sold the previous month.
However, 10-month sales were down 43 to percent 40,993 vehicles compared to 71,362 units sold in the same period last year.
AVID attributed the growth in October to restored consumer confidence with the gradual reopening of the economy, the easing of travel restrictions, and value-added promotions and services.
“We aim to continue this revival. Businesses are reopening and travel and tourism are resuming. These activities require mobility and a strong and healthy auto industry will set the course for economic recovery,” said Ma. Fe Perez-Agudo, AVID president.
Sales of light commercial vehicles rose 20 percent in October to 4,291 units from 3,574 units sold the previous month led by pick-up and light trucks of Ford, Suzuki and Hyundai.
Sales of passenger cars were down 10 percent last month at 1,791 units from 1,990 units in September.
AVID anticipates sales of this segment to pick up as consumers look for affordable mobility options.
Hyundai led the segment and accounted for half of the sales followed by Suzuki and Ford.