KARACHI: The domestic car sales have declined by 44 percent during first eight months of current fiscal year owing to higher prices and economic slowdown.
According to data released on Wednesday by Pakistan Automotive Manufacturers Association (PAMA), the total car sales declined to 90,834 units during July – February 2019/2020 as compared with 162,240 units in the corresponding period of the last fiscal year.
Market experts attributed the decline to higher car prices and unattractive high interest rate. Besides the slowdown in economy is another major reason.
The sales of Honda Car fell by 61 percent to 12,497 units during first eight months of current fiscal year as compared with 32,077 units in the corresponding period of the last fiscal year.
The sales of Indus Motors fell by 49 percent to 22,707 units during the period under review as compared with 44,409 units in the same period of the last fiscal year.
The sales of Pakistan Suzuki fell by 35 percent to 55,630 units during July – February 2019/2020 as compared with 85,754 units in the corresponding period of the last fiscal year.
Pakistan’s car sales increased by 2 percent MoM in February 2020; led by 12 percent MoM rise in sales of Indus Motor (INDU).
Pak Suzuki Motor (PSMC) and Honda Car (HCAR) both witnessed decline in sales by 3 percent MoM each.
