It seems the local automotive industry took a significant hit last month. According to the Association of Vehicle Importers and Distributors (AVID), sales in August dipped further by 19% after seeing a 2% decline in July.
There were only 3,919 units sold in August, down from 4,862 units sold the month prior. The total was also 18% lower than the 4,753 units sold during the same month last year. AVID says this was caused mainly by the lockdowns imposed in several areas in the country, including Metro Manila.
Based on AVID’s report, light commercial vehicles (LCV) still account for a good chunk of sales with a 72% market share. So far, 27,956 LCV units have been sold, good for a 44% increase from 2020.
Year-to-date commercial vehicle sales last month, meanwhile, are up from 193 to 888. Passenger-car sales in August, on the other hand, show minimal year-to-date growth (4%) and are actually down by 44% year-on-year and 18% month-on-month.
On the bright side, the year-to-date sales still reflect a 33% increase compared with 2020’s figures. According to AVID’s report, there have been 39,011 units sold so far, significantly higher than the 29,363 units sold in the same period last 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.
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