Sales of imported vehicles continued to drop last year as a result of the pandemic.
The industry recorded a 40.7-percent drop in sales in 2020, selling 51,719 units from 87,169 units sold in 2019.
The decline was due to the lockdowns, limited economic activity, and weak consumer demand amid the pandemic, according to the Association of Vehicle Importers and Distributors (AVID).
“Automotive was among the hard-hit sectors in this pandemic and we continue to feel the impact as sales, after-sales and auto-related services remain lackluster,” AVID president Ma. Fe Perez-Agudo said in a statement Thursday.
All segments recorded decrements in sales volume last year.
Sales of passenger cars declined by 46 percent to 16,588 units last year from 30,484 units in 2019.
Light commercial vehicle sales, which comprised the bulk of 2020 sales, also fell by 37.6 percent to 34,826 units from 2019’s volume of 55,778 units.
Commercial vehicle sales plunged by 66 percent to 305 units in the previous year from 907 units in 2019.
On the other hand, AVID saw some signs of recovery in the last month of 2020 as imported vehicle sales increased by 15 percent month-on-month.
Photo by PNA