A group of vehicle importers reported a nearly 46-percent drop in sales as of September, as the COVID-19 pandemic has made consumers reluctant to shell out money for goods other than the essentials.
The Association of Vehicle Importers and Distributors, Inc. (Avid) sold 34,977 units in the first nine months of the year, a 45.6-percent drop from the same period in 2019, according to data the group shared on Wednesday.
A silver lining is the 212-percent increase in sales in the third quarter to 15,471 units from a mere 4,955 units in the second quarter, indicating a gradual return in customer confidence.
“We had to restore consumer confidence quickly and decisively so the auto industry could get back on track and bounce back strong,” said Ma. Fe Perez-Agudo, Avid president.
“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,” she added.
“There will never be a return to business as usual,” she said. INQ