Car sales up 9 percent in October

Must Read

‘SEE YOU AT LTO’: Brokenhearted woman gets summoned for failure to wear helmet

The Land Transportation Office (LTO) has summoned the woman in a viral clip for not wearing a...

LTO launches online portal for student driver’s permit, driver’s license applications

Those who would like to apply for a student driver's permit or a driver's license may now...

Beating the deadline: How and where to get an EasyTrip/AutoSweep RFID

Last month, the Department of Transportation (DOTr) issued an advisory that moves the start of the mandatory...

The Association of Vehicle Importers and Distributors, Inc. (AVID) continued its solid recovery after posting a 9 percent increase in vehicle sales for October or a total of 6,120 units sold versus the 5,594 units sold in September.

In a statement, AVID attributed the sales growth to restored consumer confidence that has come about with the gradual reopening of the economy, the easing of travel restrictions, and value-added promotions and services.

“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. These activities require mobility and a strong and healthy auto industry will set the course for economic recovery,” AVID president Ma. Fe Perez-Agudo said. 

AVID posted a 20 percent sales growth in the Light Commercial Vehicles (LCV) segment in October with 4,291 units sold compared to the 3,574 units sold the previous month. Pick-up and light trucks are among the key drivers as consumers shift to vehicles that can double up for personal and commercial use. Ford leads this segment with Suzuki at second place followed closely by Hyundai. 

Sales of Passenger Cars (PC), meanwhile, dipped by 10 percent in October with 1,791 units sold compared to 1,990 in September. The segment is anticipated to increase as consumers look for affordable mobility options. Hyundai sold more than half of the passenger cars for the month, followed by Suzuki and Ford. 

The Commercial Vehicles (CV) segment increased by 27 percent in October alone as the manufacturing and agricultural sectors are beginning to return to normalcy. Government initiatives, like the BAYANIHAN Law, the continuation of BUILD BUILD BUILD, and the Public Vehicle Modernization Program are expected to spur CV sales in the coming months. 

However, YTD-October 2020 sales have fallen by nearly 43 percent to 40,993 vehicles compared to the same period last year. 

“When this pandemic started, we all asked ‘How long?’ And as the situation developed, we began asking ourselves, ‘What next?’ Which led us to do a strategic overhaul of our respective businesses. I believe the auto industry was quick to adapt to this New Normal. So now you can buy a car online, have it delivered to you without face-to-face contact, and do contactless pickups and drop-offs at service locations for your After Sales needs. The industry has come a long way in such a short time and this has been a boon to consumers,”  Agudo ended. 

- Advertisement -

Read More

‘SEE YOU AT LTO’: Brokenhearted woman gets summoned for failure to wear helmet

The Land Transportation Office (LTO) has summoned the woman in a viral clip for not wearing a helmet while on board a...

Kia leads the way at CES with autonomous car

LAS VEGAS, Nevada—The days of the beloved automobile as we know it are numbered. Sad, yes, but if we’re honest...

Golden Diamond

Diamond Motor Corporation is celebrating its Golden Anniversary this year, 50 years of helping Filipinos acquire and take care of their dream cars. Of course...

Select Maxus PH dealerships re-open, customers urge to book appointments

After over two months of halting operations to comply with the government’s guidelines under the enhanced community quarantine (ECQ) that aims to stop the...

More Articles Like This