With the economy still struggling due to the pandemic, sales of imported vehicles registered a 15-percent year-on-year decline in February.
Data from the Association of Vehicle Importers and Distributors Inc. (AVID) showed that a total of 5,401 units were sold in February, which was lower compared to last year’s 6,342 units. Month-on-month, however, sales inched up by 3 percent from 5,262 in January.
The total sales for the month were dragged by the double-digit declines in the passenger car (PC) and light commercial vehicle (LCV) segments.
For the period, there were 1,518 PC units sold, which is 23 percent lower than the 1,982 units booked in February last year. LCV sales, meanwhile, dropped by 13 percent to 3,728 units from 4,299 units.
AVID data showed that sales of commercial vehicles (CV) soared by 154 percent to 155 units in February from just 61 units in the same month last year.
In the first two months of 2021, total sales of imported cars dropped by 10 percent to 10,663 units, from last year’s 11,890 units.
Year-to-date PC sales fell by 19 percent to 2,868 units from last year’s 3,540 units. Suzuki Philippines led this segment with sales of 1,334 units, followed by Hyundai Asia Resources Inc. (HARI) with 1,095 units sold.
Sales for LCV segment in the first two months slipped to 7,522 units, 9 percent lower than the 8,264 units sold last year. Ford Philippines took the lead with 3,228 units sold while Suzuki came in second with sales of 1,735 units.
Year-to-date CV sales grew by more than threefold to 273 units from 86 units in the comparable period last year. All these were accounted for by HARI.
The slump in imported vehicle sales may still continue, according to the industry group. AVID said, however, that recovery measures are already in place.
“And while we acknowledge that recovery will not come quickly, we remain focused on taking ‘baby steps’ at all fronts of our respective businesses and count on government to heed our call for a more comprehensive, long-term approach to reopening the economy by creating more job opportunities, upgrading infrastructure and logistics, and improving the ease and cost of doing business,” AVID President Ma. Fe Perez-Agudo said.
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