Auto industry group sees improvements to start Q4, reports a 9% increase in sales

The local auto industry’s recovery continues
by Leandre Grecia | Nov 17, 2020
PHOTO: Drei Laurel

By the end of the third quarter of 2020, data showed that the local automotive industry was already seeing some improvements in terms of sales. Now, a month into the last quarter of the year, it seems that the industry’s recovery continues.

The Association of Vehicle Importers and Distributors (AVID) has just released the official sales figures of all its member carmakers, and it appears that the group sold 6,120 vehicles in October, which is 9% more than it did the month prior.

Looking at the numbers more closely, it shows that the month-on-month passenger car (PC) sales for October actually saw a 10% dip with only 1,791 units sold. Light commercial vehicles (LCVs) were the main sales drivers, with 4,291 units sold, reflecting a 20% month-on-month growth. Commercial vehicles (CVs), meanwhile, accounted for 38 units sold, which is good for a 27% increase from September.

The massive impact of the COVID-19 pandemic can still be seen on a larger scale, though. The total sales figure for 2020 is only at 40,993—that’s a 42.6% drop from the 71,362 units sold during the same period last year. For a detailed breakdown, you can check out the table below:

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AVID sales breakdown:

October 2020 Month-on-month growth 2020
Year-to-date growth
PC sales 1,791 -10% 13,523 -46%
LCV sales 4,291 20% 27,209 -40.10%
CV sales 38 27% 261 -64%
Grand total 6,120 9% 71,362 -42.60%

“We are off to a good start in the last quarter of the year and we aim to continue this revival. Businesses are reopening and travel and tourism are resuming,” said AVID president Ma. Fe Perez-Agudo. “These activities require mobility and a strong and healthy auto industry will set the course for economic recovery.”

The Chamber of Automotive Manufacturers of the Philippines (CAMPI) also recently released its October 2020 report, and the group remains optimistic that it will be able to hit its revised vehicle sales forecast for the year.

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PHOTO: Drei Laurel
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