Home>Specials>Business>8-mo. imported car sales plunge 48.7%

8-mo. imported car sales plunge 48.7%

Monthly sales of Association of Vehicle Importers and Distributors slipped by seven percent in August to 4,753 units from 5,100 unit sales in July.

Meanwhile, the eight-month sales of the car importers dropped by 48.7 percent to 29,630 units this year from 57,202 units in the same period in 2019.

Passenger car sales declined by 51 percent to 9,755 units, light commercial vehicle sales by 46.8 percent to 19,412 units, and commercial vehicle sales by 70 percent to 193 units.

AVID attributed the decline in sales in August to stricter lockdown measures in Metro Manila and four other nearby provinces last month.

In terms of segments, only light commercial vehicle sales recorded a decrease of 14 percent, while passenger cars and commercial vehicles registered a positive growth of six percent and 95 percent, respectively.

Light commercial vehicle sales went down to 2,851 units last month from 3,317 units this segment sold in July.

Passenger sales increased to 1,865 units and commercial vehicles sold 37 units in August.

AVID said the increase in sales of commercial vehicles was driven by the continuation of the “Build, Build, Build” program and the Public Utility Vehicle Modernization Program of the government.

“There are encouraging indicators of a sustained recovery for auto with the gradual reopening of businesses. Still, we remain vigilant since a key aspect of the industry’s revival is the restoration of consumer confidence through strict health and safety guidelines and rapid digital transformation. These ensure the well-being of our stakeholders, continuity of operations, and preservation of livelihood,” AVID president Ma. Fe Perez-Agudo said.