AVID reports 51% drop in sales

MANILA, Philippines — Car importers registered a 51 percent decrease in sales from January to July compared to a year ago amid low demand, according to the Association of Vehicle Importers and Distributors Inc. (AVID).

AVID sold 24,607 units in the January to July period, lower than the 50,151 units a year ago.

Passenger car (PC) sales fell by 55 percent to 7,890 units as of end-July from 17,701 units in the previous year.

Light commercial vehicle (LCV) sales were down by 48 percent to 16,561 units in the seven month period from 31,873 units last year.

CV sales posted a bigger drop of 73 percent to 156 units in the January to July period from 577 units a year ago.

Despite the sales slump in the January to July period, sales for the month of July alone went up by 38 percent to 5,100 units compared to June’s 3,697 units due to higher PC and LCV sales.

PC sales, in particular, grew by 47 percent to 1,764 units in July from June’s 1,199 units.

LCV sales rose by 35 percent to 3,317 units in July from 2,462 units in June.

The group’s CV sales, on the other hand, dipped by 47 percent to 19 units in July from 36 units in June.

AVID president Ma. Fe Perez-Agudo said the group is hopeful of a better performance in the second half, provided the government does not impose further lockdowns after Aug.18.

“We anticipated such scenarios and are, therefore, prepared to adapt and respond, keeping in mind the needs and safety of our customers,” Agudo said.

“Our focus now is to win back consumer confidence and give them the best value during these pandemic times,” she said.

Automotive firms are leveraging on digital platforms to cater to customers at this time.

“The entire industry is undergoing rapid digital transformation to meet the evolving needs of consumers, employing innovative and disruptive selling tactics to win back customers, and the agility to adapt to a more complex and unpredictable business environment,” Agudo said.