AVID sustains strong recovery with 38% growth in July

THE ASSOCIATION of Vehicle Importers and Distributors, Inc. (AVID) continued its healthy recovery with 5,100 units sold in July or a 38 percent increase from the 3,697 units sold in June 2020.

The group said that demand for passenger cars and subcompact SUVs is beginning to pick-up as consumers look for safe and affordable personal mobility with restrictions on public transport and the ongoing pandemic. There is also an increase in sales of small utility trucks and vans, underscoring the importance of transport and logistics in putting the Philippine economy back on track.

“The entire industry is undergoing rapid digital transformation to meet the evolving needs of consumers, employing innovative and disruptive selling tactics to win back customers, and the agility to adapt to a more complex and unpredictable business environment,” AVID president Ma. Fe Perez-Agudo said.

The Passenger Cars (PC) segment grew by 47 percent with 1,764 units sold in July from the 1,199 units sold in June 2020. Light Commercial Vehicles (LCV) sales reached 3,317 units sold last month, a 35 percent increase from June’s 2,462 units sold. Commercial Vehicles CV sales, meanwhile, dropped 47% to 19 units in July.

Year-to-date July 2020, unit sales reached 24,607 units or a 51 percent decrease over the same period last year.

“Given that we have already bottomed out in the first semester, we believe the second half of the year will be better assuming there are no further lock downs past August 18. We understand the government’s decision to shift back to MECQ since we need to prioritize lives over livelihood. We anticipated such scenarios and are therefore prepared to adapt and respond, keeping in mind the needs and safety of our customers,” Agudo said, “Our focus now is to win back consumer confidence and give them the best value during these pandemic times.”