AVID stay on course despite ‘Ghost Month’ Slump cruising along its recovery trend by 33%
The Association of Vehicle Importers and Distributors, Inc. (AVID) cruises along its recovery trend with a 33% Year-to-date (YTD) sales increase for the first eight months of 2021. AVID recorded total sales of 39,011 units compared to the 29,363 units sold in the same period last year.
For August, AVID sales dipped by 18%, from 4,753 units sold last year to 3,919 units, this year. August sales also saw a 19% reduction from the recorded 4,862 units recorded from the previous month.
This slowdown was mainly caused by the sporadic lockdown due to new highs in recorded COVID-19 cases. Despite the slight contraction, the Philippine automotive industry remains on track toward recovery.
LIGHT COMMERCIAL VEHICLES
Light Commercial Vehicles (LCV) reign as the most purchased segment, maintaining 72% market share of total industry sales. LCV sales consistently improved with a 44% surge from 19,412 units sold in the first eight months of 2020 to 27,956 units sold in the same period this year. Ford continues to lead the segment with an eight-month high of 11,639 units sold, Suzuki at second place with 7,874 units, and Hyundai with 3,420 units sold.
COMMERCIAL VEHICLES
Commercial Vehicles (CV) champion the segment sales growth, maintaining the highest growth at 362% (YTD). Hyundai trucks and buses accounted for the bulk of sales in said segments with an impressive 99.7% growth of total CV sales. The brand continues to work hand-in-hand with the government’s Public Utility Vehicles Modernization Program with its steady introduction of next-gen Modern Jeepney models. The Korean brand sold a total of 888 units this year, which is a significant improvement from the 193 units sold in the same period last year.
PASSENGER CARS
The Passenger Cars (PC) segment sales saw minimal YTD growth at 4% from 9,758 units sold in 2020 to 10,164 units this year. PC Segment vehicles were the most affected by the lockdown, translating to a year-on-year drop of 43% and month-on-month decline of 18%. Suzuki steadily leads the segment with 5,080 units sold, followed by Hyundai with a respectable 3,300 units sold.
“The entire industry hit a pot hole 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.”
– Ma. Fe Perez-Agudo, AVID President
Above all, continue to follow AVID’s best rides at Lifestyle On Wheels, CarSide News Facebook, and Instagram. Watch it on our Youtube Channel and of course, on our broadcast TV Pinoy Xtreme Channel. And also, read more stories on our website.
ARTICLE: ON THE NEWS SOURCE: AVID PRODUCTION: J AD MEDIA
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