Car sales increase by 18 percent during first half

Car sales increase by 18 percent during first half

KARACHI: The sales of domestically manufactured cars have registered 18 percent growth to 78,910 units during first half (July – December) 2021/2021 as compared with 67,019 points in the half of the last fiscal year.

The increase in cars sales during the first half mainly attributed to addition of 1,169 units manufactured by new entrant Hyundai, according to data released by Pakistan Automotive Manufacturers Association (PAMA) on Monday.

The sales of Pakistan Suzuki fell by 15 percent to 37,936 units during the first half of the current fiscal year as compared with 44,698 units in the same period of the last fiscal year.

However, sales of Indus Motors posted strong 84 percent growth to 26,139 units during the first half of the current fiscal year as compared with 14,175 units in the corresponding half of the last fiscal year.

The sale of Honda Cars also registered increase 68 percent to 13,666 units during July – December 2020 as compared with 8,146 units in the same period of the last fiscal year.

Car sales, as reported by PAMA, increased by 15 percent YoY in December 2020 to 13,870 units. The same, including Lucky Motor Corporation (KIA, non-member of PAMA), is up by 20 percent YoY.

Indus Motor (INDU) and Honda Car (HCAR) registered sales increases of 72 percent YoY and 76 percent YoY, respectively. Pak Suzuki’s (PSMC) sales declined by 13 percent YoY.

New entrants into Pak Auto space Hyundai Nishat sold 511 units (+8 percent MoM) in Dec-2020, while Lucky Motor sold around 600 units, as per our channel checks.

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