Car importers and distributors saw their sales nearly double in March due to the increase in the uptake of passenger cars (PC) and light commercial vehicles (LCV).
According to the latest data from the Association of Vehicle Importers and Distributors Inc. (AVID), sales of imported cars rose by 95 percent to 5,193 units in March from 2,663 units a year ago.
March sales, however, showed a 4-percent decline from 5,401 units sold the previous month.
For the period, sales of LCV improved by 125 percent to 3,676 units year-on-year while the PC segment sold 1,372 units, which is 34 percent more than 1,026-unit sales in March 2019. In total, LCV and PC sales soared by 90 percent to 5,048 units in March from 2,657 units last year for the same month.
Commercial vehicle (CV) sales, meanwhile, grew exponentially to 145 units in March from just 6 units last year.
In the first quarter, total imported car sales rose by 9 percent to 15,587 units from 14,554 units in the comparable period last year.
The LCV segment comprised the bulk of the sales at 11,198 units, which is a 13-percent improvement from 9,895 units sold last year. Ford Group Philippines led this segment with 4,786 units sold, followed by Suzuki Philippines Inc. and Hyundai Asia Resources Asia Resources Inc. with sales of 2,628 units and 1,780 units, respectively.
Sales of CV were up by more than fourfold to 418 units in the first quarter from last year’s 92 units. Hyundai accounted for all the sales in this segment.
PC sales, meanwhile, slid by 7 percent to 4,241 units for the period from 4,567 units in the previous year. Suzuki and Hyundai accounted for the lion’s share, selling 2,067 units and 1,484 units, respectively, in the first quarter.
“The slow uptick of PC is a result of continued low consumer confidence,” AVID President Ma. Fe Perez-Agudo said.
“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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