AVID sales surge 210% in Q3

MANILA: Member companies of the Association of Vehicle Importers and Distributors, Inc. (AVID) sold a combined 15,471 units in the third quarter of the year — surpassing the Q2 total of 4,995 units by 210%.

In a release, AVID attributed the growth to increased consumer confidence amid the COVID-19 pandemic. The recovery, it maintained, has been a result  of “rapid digital transformation, best value promotions, and stringent health and safety protocols in automotive facilities nationwide.”

Q3 sales of passenger cars alone reached 5,622 units – an increase of 260% -- over Q2 results. The top three leaders in the segments registered year-to-date totals of 6,244 (Hyundai), 4,069 (Suzuki), and 825 (Ford).

Consolidated AVID sales of light commercial vehicles reflected 192% growth quarter-on- quarter with 9,763 units sold versus 3,349 units in Q2. Year-to-date numbers show Ford leading the segment with 8,539 units, followed by Suzuki (6,422) and Hyundai (5,879).

In commercial vehicles, AVID sales grew by 91% quarter-on-quarter with 86 units sold. The auto group sees the “the gradual reopening of the economy and resumption of key government projects (as spurring) more demand for commercial vehicles.”

However, comparing YTD (until September) performance to the same period last year, the 34,977-unit total reflects a 45.6% plummet from 2019’s 64,274 units.

In a statement, AVID President Ma. Fe Perez-Agudo said, “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.”

She averred, “There will never be a return to business as usual. We are redefining the industry’s new normal – call it a better normal. Even if the customer journey has radically changed, one thing remains constant for us: the commitment to give our customers the premium value, care, and attention that they deserve, in and beyond pandemic times."

Also read: Sales of imported passenger vehicles up by 6% in Aug.