AVID sales regain momentum with 26% growth

The Association of Vehicle Importers and Distributors, Inc. (AVID) maintains its pace to recovery with a 26% increase in sales, year-to-date (YTD), for the first nine months of 2021, recording a total of 43,957 units sold compared to the 34,980 units sold in the same period last year. Likewise, sales in September alone picked up by 26% compared to last month’s slump.

The Commercial Vehicles (CV) segment takes the lead with a 311% surge (YTD).  Hyundai trucks and buses have been on a roll, capturing 98% of total AVID CV sales. The Korean brand sold 906 units YTD, which is a significant improvement from the 223 units sold in the same period last year.

Next in line are the Light Commercial Vehicles (LCV) which maintained 72% share of AVID sales for the first nine months of this year. Year-to-date, LCV sales consistently improved by 37%, from 23,007 units sold in 2020 to 31,444 units sold in the same period this year. Ford consistently leads the segment with 13,258 units sold, followed by Suzuki with 8,677 units, and Geely with 3,818 units sold.

Passenger Cars (PC) slightly slowed down by 1% from 11,750 units sold in 2020 to 11,596 units this year. The PC Segment was the most hard-hit by the recent lockdown, with a year-on-year (YoY) drop of 28%. Nevertheless, the segment recovered from last month’s drought, growing by 36%. Suzuki sold 5,768 units, followed by Hyundai with 3,829 units sold.

“We have weathered the volatile market conditions of the third quarter. With improving health conditions and a more stable outlook, AVID is optimistic and driven to wind up this last quarter on a strong note,” affirmed AVID President Ma. Fe Perez-Agudo.

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