Car Sales Down in January

A group of vehicle importers suffered a 16-percent drop in sales in January, as it struggled to cope with the Taal eruption and the COVID-19 outbreak. 

The Association of Vehicle Importers and Distributors or AVID said in a statement on Wednesday it only sold 5,433 units in January, fewer than the 6,482 units sold in the same month last year. This performance worse than the 12 percent drop in sales of other car and truck manufacturers in the country.

Sales across all AVID segments dropped. Passenger car sales fell 31 percent to 1,553 units, while light commercial vehicles dropped 7 percent to 3,855 units. Commercial vehicles, which only consists of Hyundai units, dropped 63 percent to 25 units.

The group represents 25 brands, but it only accounts for a small slice of auto sales in the Philippine automotive industry.

Source: https://business.inquirer.net/291918/car-importers-dealt-double-blow-in-january

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