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AVID reports 5% car sales increase in October over the previous month

Hyundai, Ford, and Suzuki take top honors based on AVID’s records.

Earl Lee on Dec 09, 2019

The Association of Vehicle Importers and Distributors, Inc. (AVID) started strong for the fourth quarter of 2019. In the month of October, 7,320 units were sold, equivalent to a 5% gain over the 7,000 sold in the previous month. A slight dip of 3% or 71,396 units sold year-to-date (YTD) in October compared to the same time in 2018.

Lower inflation, interest rates, and fuel prices coupled with increased consumer spending with the start of the holiday season could boost industry performance. Increased government spending on key infrastructure projects and the jeepney modernization program will further bolster demand, especially for light and heavy commercial vehicles,

Ma. Fe Perez-Agudo
AVID President

Passenger car sales grew by 2% month-on-month with 2,591 units sold in October over the number achieved in September 2019. Hyundai Asia Resources, Inc. (HARI) still retains its industry leadership in this segment with 1,457 units sold, while Suzuki is the runner-up in this time period with a total of 690 units. AVID’s year-to-date sales for passenger cars dipped by 3% with 25,133 units sold compared to the 25,821 units sold during the same period last year.

The light commercial vehicle (LCV) segment experienced a 6% increase in the month-on-month sales with 4,689 units sold for the month of October in contrast to a total of 4,413 units sold the month prior. There was a slight dip in the year-to-date sales of 4.3%, with 45,536 units sold versus the same period last year. Ford leads the light commercial segment with 16,522 units sold since the start of the year, followed by Hyundai with 12,331 units. Suzuki comes in third for the period with 12,267 sold.

Commercial vehicles were the only segment in AVID’s report that experienced a drop in sales volume. The report states a 7% drop for October with 40 units sold. Through the course of 2019, CV sales surged by 87% to 727 units in the first 10 months of the year compared to 389 units sold during the same period in 2018.