Imported vehicle sales nearly double in March

MANILA, Philippines — Sales of vehicle importers nearly doubled in March, with all segments posting year-on-year growth, although this was mainly due to a low base effect as a lockdown was first imposed by the government in the same month last year.

In a statement yesterday, the Association of Vehicle Importers and Distributors Inc. (AVID) said total sales in March went up 95 percent to 5,193 units from 2,663 units in the same month a year ago.

Passenger car (PC) sales rose 34 percent to 1,372 units from the previous year’s 1,026 units, while light commercial vehicle (LCV) sales surged 125 percent to 3,676 units from 1,631 units last year.

For CVs, the group sold 145 units, well-above the six units sold in the same month a year ago.

The government’s move to impose a lockdown starting in March last year to curb the spread of the coronavirus disease 2019 pandemic limited movement and affected demand for vehicles.

On a month-on-month basis, AVID’s total sales in March were down by four percent from 5,401 units sold in February,

For the first quarter, AVID’s total vehicle sales grew nine percent to 15,857 units from 14,554 units the previous year.

AVID’s PC sales declined seven percent to 4,241 units in the first three months from 4,567 units in the same period last year.

“The slow uptick of PC is a result of continued low consumer confidence,” AVID president Ma. Fe Perez-Agudo said.

LCV sales, meanwhile, climbed 13 percent to 11,198 units as of end-March from 9,895 units a year ago.

CV sales jumped 354 percent to 418 units in the first quarter from 92 units in the previous year.

Agudo said the LCV and CV segments are driving the growth of the industry.

“We see these two segments as our industry’s lifesavers as they lend indispensable support to the country’s revitalized infrastructure development programs,” she said.