Car sales climb up by 54pc in 10 months

Car sales climb up by 54pc in 10 months

KARACHI: Sales of domestic assembled cars have increased by 54 percent during first 10 months of the current fiscal year due to smooth production despite coronavirus threats.

According to statistics released by Pakistan Automobile Manufacturers Association (PAMA), 151,178 units were sold during July – April 2020/2021 as compared with 97,900 units sold in the same period of the last year.

The sales of Indus Motors posted 90 percent growth to 48,025 units during first 10 months of the current fiscal year as compared with 25,300 units in the same period of the last year.

The sales of Honda Cars recorded 71 percent growth to 23,985 units during July – April 2020/2021 as compared with 14,061 units in the same period of the last year.

The sales of Pakistan Suzuki Motors Company (PSMC) recorded 28 percent growth to 74,619 units during first 10 months of the current fiscal year as compared with 58,303 units in the same period of the last year.

The sales of Hyundai cars, which entered the domestic market last year, were at 4,549 units during the first 10 months of the current fiscal year.

Analysts at Topline Securities said that Car sales declined by 17 percent month on month (MoM) in April 2021, affected by the start of the month of Ramadan and supply-side issues.

The same, including Lucky Motors Corporation (KIA, non-member of PAMA), is down by around 16 percent MoM.

To highlight, amid countrywide lockdowns imposed by the Federal and Provincial governments in Mar/Apr-2020, no car sales were recorded during Apr-2020.

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