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Friday, March 29, 2024

Imported car dealers posted higher sales in 3rd quarter

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A group of vehicle importers and distributors said Wednesday third-quarter sales jumped 212 percent to 15,471 units from 4,955 units sold in the second quarter, or during the peak of the quarantine restrictions.

The Association of Vehicle Importers and Distributors Inc. said the rapid digital transformation, best value promotions and stringent health and safety protocols in automotive facilities nationwide led to the recovery of consumer confidence in the third quarter.

The group did not provide year-on-year comparison.

“We had to restore consumer confidence quickly and decisively so the auto industry could get back on track and bounce back strong. We aim to sustain this momentum until the last quarter of the year as we continue to reinvent ourselves, innovate, and capture our customer’s imagination. This will put us in a great position as we start afresh in 2021,” said AVID president Ma. Fe Perez-Agudo.

The passenger car segment posted a 260-percent growth in quarter-on-quarter sales with 5,622 units in the third quarter, up from 1,561 units in the second quarter.

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AVID said demand for sedans picked up as consumers were looking for safe and affordable personal mobility. Hyundai, the top contributor of passenger cars, sold 6,244 units this year, followed by Suzuki with 4,069 units and Ford with 825 units sold.

It said the light commercial vehicle segment recorded a 192-percent growth in quarter-on-quarter sales with 9,763 units sold in the third quarter from 3,349 units in the second quarter.

Ford led the segment with 8,539 units sold while Suzuki placed second with 6,422 units and Hyundai was third with 5,879 units.

AVID said the commercial vehicle segment also recorded a 91-percent growth in the third quarter with 86 units, up from 45 units in the second quarter.

Agudo said the gradual reopening of the economy and resumption of key government projects would spur more demand for commercial vehicles.

Data showed that sales in the first nine months fell 45.6 percent to 34,977 units from 64,274 units sold in the same period last year.

“There will never be a return to business as usual. We are redefining the industry’s new normal—call it a better normal. Even if the customer journey has radically changed, one thing remains constant for us: the commitment to give our customers the premium value, care and attention that they deserve, in and beyond pandemic times,” Agudo said.

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