AVID YTD sales up by 43% despite July dip
THE ASSOCIATION of Vehicle Importers and Distributors, Inc. (AVID) reported that its member companies saw an increase in year-to-date (YTD) sales for the first seven months of 2021, compared to the same period last year. Last year’s figure of 24,610 units rose by 43% to 35,092 this year.
Meanwhile, July sales experienced a slight contraction of 5% from 5,101 units sold in July 2020 to 4,862 units this year. Versus June (4,961), the figure dropped marginally by 2%.
AVID said in its release that “(the) performance reflects the industry’s overall improvement amid the pandemic.” Sales of light commercial vehicles (LCV) “hold the lion’s share with 72% of total industry.” LCV sales surged by 52% from 16,561 units in 2020 (January to July) to 25,127 units sold in the same period this year.
Leading the segment is Ford with 10,343 units sold. Suzuki follows with 7,076 units, and Hyundai is in third with 3,177 units sold.
Commercial vehicles registered the highest category sales growth rate with a 448% surge YTD. Hyundai accounted for sales of 852 units here, improving significantly from the 156 units sold in the same period last year. Passenger car sales grew by 15% growth from 7,893 units sold in 2020 to 9,110 units this year. Suzuki still leads the segment with 4,559 units sold. Coming in second is Hyundai with 2,979 units sold.
“The gradual adaptation of the automotive industry to ‘now normal’ operations is mainly driven by the valuable lessons gathered and learned over the course of the period. These lessons fuel our passion for developing new and innovative ways to addressing the needs of the market. And AVID is determined to pave the way towards recovery,” said AVID President Ma. Fe Perez-Agudo.
