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Imported vehicle sales down by 16.2% in January

By Kris Crismundo

March 5, 2020, 7:04 pm

MANILA – A total of 5,433 imported vehicles were sold in the country in the first month of the year, the Association of Vehicle Importers and Distributors (AVID) reported Thursday.

AVID’s sales in January this year was 16.2 percent lower than its sales in January 2019 at 6,482 units.

All segments were down, with passenger cars leading the drop at 31 percent.

Sales of imported passenger cars year-on-year for the month of January declined to 1,553 units from 2,258 units.

Light commercial vehicle sales fell by 7.5 percent to 3,855 units in January this year from 4,157 units in the same month in 2019.

Commercial vehicle sales also went down by 6.3 percent year-on-year to 25 units from 67 units.

“2020 will be a very challenging year for the industry given the slowdown in automotive demand, supply chain disruptions, and dampened consumer confidence caused by twin events these (Taal Volcano eruption and coronavirus outbreak),” AVID President Ma. Fe Perez-Agudo said.

Despite the downside risks that the industry is facing, Perez-Agudo added the group remains confident in the Philippine market.

“Fortunately, the Philippine economy remains strong backed by robust public spending, private consumptions, and lower interest rates,” she said. (PNA)

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