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Imported vehicle sales up 9% in Q1

Imported vehicle sales up 9 percent in the first quarter this year versus the same period in 2020 with commercial vehicles leading the growth, according to the Association of Vehicle Importers and Distributors, Inc. (AVID).

The AVID report showed that its 11 members were able to sell 15,857 units sold since the start of 2021 versus the 14,554 units sold in the same period last year.

In March 2021 alone, sales went up by 95% with 5,193 units sold versus the 2,663 units reported in March 2020. Sales, however, in March was 4 percent lower than the previous month’s sales of 5,401 units.

The Commercial Vehicles (CV) segment took the lion’s share with 354 percent growth in year to date sales, led by Hyundai Asia Resources Inc. (HARI) with 418 units sold versus the 92 sold in 2020.

Passenger Cars (PC) felt the overall pinch with a 7 percent decrease, or 4,241 units sold compared with the 4,567 in the same period last year.

Nevertheless, the March 2021 figures are a marked improvement, growing by 34 percent from 1,026 units sold at the height of the lockdowns in March 2020 to 1372 units sold in March this year. Suzuki still holds the top spot with a total of 2,067 units, followed by Hyundai with 1,484 units sold since the start of the year.

In the Light Commercial Vehicles (LCV) segment, AVID recorded a 13 percent increase from 9,895 units sold last year to 11,198 units sold in the same period this year. Ford continues to be the top contributor in this segment with 4,786 units sold while Suzuki holds the second place with 2,628 units, closely followed by Hyundai with 1,780 units sold.

AVID President Ma. Fe Perez-Agudo said “The slow uptick of PC is a result of continued low consumer confidence. But let us not discount the commendable performances of LCV and CV, and the hardworking teams that drive them. We see these two segments as our industry’s lifesavers as they lend indispensable support to the country’s revitalized infrastructure development programs.”

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Credit belongs to : www.mb.com.ph

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