SALES of imported vehicles in the country rebounded in the third quarter of the year compared to the previous quarter.
The Association of Vehicle Importers and Distributors (AVID) reported that third-quarter sales grew triple digit by 212 percent to 15,471 units from second quarter’s sales of 4,955 units.
Passenger car segment recorded the highest quarter-on-quarter growth at 260 percent. A total of 5,622 passenger cars were sold in the third quarter from 1,561 units sold the previous quarter.
Light commercial vehicle sales also rose triple digit by 192 percent to 9,763 units in July to September this year from 3,349 vehicles sold in April to June period.
Commercial vehicle sales increased by 91 percent to 86 units from 45 units.
“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 (until) 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,” AVID president Ma. Fe Perez-Agudo said in a statement.
Meanwhile, year-to-date sales of AVID remained negative, declining by 45.6 percent this year from 2019 figures.
AVID sales from January to September 2020 only reached 34,977 units compared to sales of 64,274 units last year.
Total passenger car sales dropped by 48 percent to 11,747 units from 22,654 units last year.
For the light commercial vehicle segment, sales went down by 43.8 percent to 23,007 units in the first nine months of 2020 from 40,933 units in the same period last year.
Commercial vehicle sales declined by 68 percent to 223 units this year from 687 units in the previous year.
“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,” Perez-Agudo added. (PNA)
