The past few months haven’t been a good look for the local automotive industry.
According to the latest sales data from the Association of Vehicle Importers and Distributors (AVID), its 20 members sold only 14,404 units in the first quarter of 2020—a huge 34.4% dip compared to the same period last year.
Passenger car sales saw a 43% drop with 4,506 units sold (compared to 7,848 in 2019). Light commercial vehicle sales (LCV), meanwhile, are down by 29% with 9,806 units sold. The hardest-hit sector is commercial vehicles (CV), which dropped a whopping 62% with only 92 units sold.
AVID attributes the sharp drop in sales to the impact of the COVID-19 pandemic, which has caused most, if not all, dealerships and maintenance facilities in the Philippines to temporarily shut their doors.
According to AVID president Ma. Fe Perez-Agudo, the country’s automotive industry could end the year with a 40% drop in sales: “The local industry is reeling from this invisible enemy as vehicle manufacturing, importation, distribution, and maintenance has stopped completely. Demand has likewise declined as consumers spend on more urgent needs.”
“With this disruption, we estimate that car sales may drop by around 40% for the year,” Agudo added, stressing it may take the industry at least a year to recover from COVID-19’s impact once the enhanced community quarantine period is completely lifted.
Check out the AVID breakdown of total passenger car, LCV, and CV sales for Q1 2020:
Passenger car sales Q1 2020
- Hyundai Asia Resources Inc. – 2,724 units sold
- Suzuki Philippines Inc. – 1,127 untis sold
- Ford Philippines – 415 units sold
- Auto Nation Group – 178 units sold
- The Covenant Car Company Inc. – 34 units sold
- Motor Image Pilipinas – 28 units sold
LCV sales Q1 2020
- Ford Philippines – 3,479 units sold
- Hyundai Asia Resources Inc. – 2,797 units sold
- Suzuki Philippines Inc. – 2,740 units sold
- Motor Image Pilipinas – 298 units sold
- Sojitz G Auto Philippines – 295 units sold
- The Covenant Car Company Inc. – 152 units sold
- Auto Nation Group – 45 units sold
CV sales Q1 2020
- Hyundai Asia Resources Inc. – 92 units sold
Agudo says that AVID is in close coordination with its stakeholders and hopes to resume operations “in a manner that protects the health and safety of our workforce and customers, once the ECQs and GCQs are lifted.” Hopefully, the industry bounces back sooner rather than later.