Sales of imported cars dropped by 18 percent in August as the lockdown measures amid surging Covid-19 cases tempered demand for the period.
In a news statement released on Friday, the Association of Vehicle Importers and Distributors Inc. (AVID) reported that it sold 3,917 units in August, which is lower than 4,753 unit sales year-on-year.
“The entire industry hit a pothole 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,” said AVID President Ma. Fe Perez-Agudo.
All segments registered sales decline in August.
Sales for passenger car (PC) units was cut by 44 percent to 1,052 from 1,865 year-on-year.
Light commercial vehicle (LCV) sales slightly dipped by 1 percent to 2,829 units from 2,851 in the previous year.
Commercial vehicle (CV) segment saw a 3-percent decrease in sales with 36 units.
Year-to-date, however, the imported car dealers registered a 33-percent uptick in sales with 39,011 units, which is higher than the 29,363 units in the previous year for the same period.
LCV accounted for the bulk or 72 percent of the total industry sales in the first eight months. Sales for this segment went up by 44 percent to 27,956 year-to-date from 19,412 units in 2020. Ford Group Philippines leads the sector with 11,639 units sold; followed by Suzuki Philippines Inc. and Hyundai Asia Resources Inc. with 7,874 units and 3,420 units, respectively.
PC sales inched up by 4 percent to 10,164 units in January-August period. Suzuki and Hyundai are the top sellers with 5,080 units and 3,300 units sold.
CV sales, mostly comprised by Hyundai trucks and buses, surged by more than four times to 891 units from just 193 units last year.