AVID remains on track toward recovery despite Aug. sales dip

MANILA: The Association of Vehicle Importers and Distributors, Inc. (AVID) has recorded a total of 39,011 units sold in the first eight months of 2021, which is 33% higher versus the 29,363 units sold in the same period last year.

For August, AVID sales decreased by 18% from 4,753 units sold in the same month last year to 3,919 units this year. AVID has also reported a 19% dip in month-on-month sales for August from the 4,862 units recorded from the previous month.

One of the main causes of this slowdown is the intermittent lockdown due to the rising number of COVID-19 cases in the country. Despite the slight decline, the local automotive industry is believed to be on track toward recovery.

The light commercial vehicle (LCV) segment emerged as the top seller, attaining 72% market share of total industry sales. A total of 27,956 LCV units were sold in the first eight months of 2021, which is 44% higher than the 19,412 units sold in the same period last year. Ford led the segment with 11,639 units sold, followed by Suzuki with 7,874 units and Hyundai with 3,420 units.

Meanwhile, the commercial vehicle (CV) segment recorded the highest year-to-date growth at 362%. Hyundai was the top-selling CV brand, moving a total of 888 units, which is 99.7% higher than the 193 units sold in the first eight months of 2020. The Korean automotive brand continues to support the government’s Public Utility Vehicle Modernization Program by producing next-gen modern jeepney models.

In the passenger cars (PC) segment, AVID recorded a 4% increase from 9,758 units sold in 2020 to 10,164 units this year. The PC segment was most affected by the lockdown as it saw a year-on-year decline of 43% and month-on-month drop of 18%. Suzuki was the top-selling PC car brand in the first eight months of the year with 5,080 units sold. It was followed by Hyundai with 3,300 units sold.

In a statement, AVID President Ma. Fe Perez-Agudo said, “The entire industry hit a pothole in August due to the necessary health restrictions. Despite this, we at AVID choose to be optimistic as we approach the final stretch of the year.”

Images from the Association of Vehicle Importers and Distributors, Inc.

Also read: AVID sales up by 43% in first 7 months of 2021