Imported car sales up by 95% in March

SALES of imported cars went up by more than 90 percent in March, the Association of Vehicle Importers and Distributors Inc. (AVID) reported on Tuesday.

In a statement, AVID said sales during the month reached 5,193 units, higher by 95 percent from the 2,663 units sold in the same month last year.

Sales of passenger cars (PC) picked up by 34 percent to 1,372 units from 1,026 units.

Light commercial vehicles (LCVs) sales also rose by 125 percent to 3,676 units from 1,631 units, while commercial vehicle sales reached 145 units from 6 units a year ago.

Year-to-date, imported car sales surged by 9 percent to 15,857 units from 14,554 units last year due to the increase in light commercial vehicle sales and commercial vehicle sales.

The number of PCs sold, however, slid by 7 percent to 4,241 units from 4,567 units.

“The slow uptick of PCs is a result of continued low consumer confidence. But let us not discount the commendable performances of LCV and CV, and the hardworking teams that drive them,” said AVID President Ma. Fe Perez-Agudo.

“We see these two segments as our industry’s

lifesavers as they lend indispensable support to the country’s revitalized infrastructure development programs,” she added.

The group earlier expressed hope that car sales will be able to recover this year.

Agudo said AVID is counting on the government to put in place 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.

To recall, she earlier said the imposition of a provisional safeguard duty on imported vehicles would dampen the automobile sector’s recovery.

The provisional safeguard duty is in the form of a cash bond amounting to P70,000 for each imported passenger car and P110,000 for every imported light commercial vehicle.

“This [safeguard duty] will aggravate the already anemic demand and make it harder for Filipinos to afford personal mobility with the projected price hikes,” said Agudo.