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

MANILA: The Association of Vehicle Importers and Distributors, Inc. (AVID) reported 43% growth in year-to-date (YTD) sales for the first seven months of 2021. The group registered consolidated total sales of 35,092 units versus the 24,610 moved in the same period last year.

AVID saw a slight dip of 5% from 5,101 units sold in July last year to 4,682 units last month. It also recorded a 2% decrease from the 4,961 units sold in June 2021.

The light commercial vehicle (LCV) segment accounted for a share of 72% of total industry sales. LCV sales grew by 52% in the first seven months of 2021 from 16,561 units in the same period last year to 25,127 units sold this year. Ford continues to be the best-selling LCV brand with 10,343 units sold, followed by Suzuki with 7,076 units and Hyundai with 3,177 units.

The commercial vehicle (CV) segment led the YTD sales increase as it recorded the highest sales growth rate of 448%. Hyundai led the CV segment as it has been a huge contributor in the nationwide efforts for modernizing public utility vehicles (PUV). The brand has moved a total of 852 CV units, which is significantly higher than the 156 units sold in the same period last year.

Meanwhile, the passenger car (PC) segment recorded 15% growth from 7,893 units sold in the first seven months of 2020 to 9,110 units in the same period this year. It has also experienced a year-on-year decline of 27% and a month-on-month dip of 5%.

Suzuki remains to be the top-selling brand in the segment with 4,559 units sold, followed by Hyundai with 2,979 units.

In a statement, AVID President Ma. Fe Perez-Agudo said, “The gradual adaptation of the automotive industry to ‘now normal’ operations is mainly driven by the valuable lessons gathered and learned over the course of the period. These lessons fuel our passion for developing new and innovative ways to addressing the needs of the market and AVID is determined to pave the way towards recovery.”

Also read: AVID sales surge by 59% in first 5 months of 2021