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Tag: Pakistan Auto Manufacturers Association

  • 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.

  • Car sales register 37pc growth in nine months

    Car sales register 37pc growth in nine months

    KARACHI: The sales of locally assembled cars registered 37 percent growth in first nine months (July – March) 2020/2021 owing to higher demand following ease in coronavirus restriction during the period.

    According to Pakistan Automotive Manufacturers Association (PAMA) the car sales recorded 134,522 units during first nine months of the current fiscal year as compared with 98,425 units in the corresponding period of the last fiscal year.

    Analysts attributed the rise in car sales to ease in restrictions related to coronavirus during the current fiscal year, which resulted in acceleration in economic activities.

    According to analysts of Topline Securities, the car sales have increased by 27 percent MoM in March 2021 (highest since March 2019), taking 9MFY21 sales growth to 37 percent YoY.

    The same, including Lucky Motors Corporation (KIA, non-member of PAMA), is up by around 20 percent MoM (highest since October 2018) with 9MFY21 sales growth estimated at around 46 percent YoY.

    Sales are up 198 percent YoY (as reported by PAMA) in March 2021, however YoY sales growth is misleading, in their view, because of lockdowns in March last year due to COVID-19.

    Indus Motor Company (INDU) sales increased the most by 53 percent MoM as the company had witnessed supply issues in Feb-2021. Sales growth was primarily driven by Hilux sales, which were up by 103 percent MoM.

    New entrants in the industry, Hyundai Nishat sold 723 units in March 2021 with the inclusion of Hyundai Elantra, while Lucky Motor Corporation sold around 2,000 units, as per our channel checks.

    Atlas Honda (ATLH) recorded motorbike sales of 125,030 units in March 2021, up 20 percent MoM. In 9MFY21, sales have increased by 25 percent YoY.

    Tractor sales in Mar-2021 are up by 89 percent YoY and 24 percent MoM.

    Millat Tractors (MTL) recorded increase of 71 percent YoY (+17 percent MoM) while Al Ghazi Tractors (AGTL) sales increased by 133 percent YoY (+40 percent MoM), respectively.

  • Car sales climb up by 23 percent in seven months

    Car sales climb up by 23 percent in seven months

    KARACHI: The sales of locally manufactured motor cars registered 23 percent increase during first seven months (July – January) of 2020/2021 owing to lower interest rates and reduction in coronavirus infection rate.

    According to Pakistan Automobile Manufacturers Association (PAMA) the car sales increased to 97,469 units during first seven months of the current fiscal year as compared with 79,458 units in the corresponding months of the last fiscal year.

    The total number of car sales also included 2,279 units sold by Hyundai, which started reporting of sales from the current fiscal year.

    Indus Motors has registered 74 percent growth to 31,591 units during the period under review as compared with 18,197 units in the corresponding period of the last fiscal year.

    The sale of Honda Cars also posted 56 percent growth to 16,116 units during July – January 2020/2021 as compared with 10,356 units in the same period of the last fiscal year.

    However, the sales of Pak Suzuki witnessed a decline of 7 percent to 46,949 units during the period under review as compared with 50,253 units.

    Analysts at Topline Securities said that car sales, as reported by PAMA, have increased by 46 percent YoY in January 2021 to 17,515 units.

    The same, including Lucky Motor Corporation (KIA, non-member of PAMA), is up by 67 percent YoY.

    Pak Suzuki (PSMC) led the charge of the New Year euphoria with a massive increase of 62 percent YoY. This was primarily driven by Alto (+113 percent YoY) and Wagon R (+132 percent YoY) sales.

    Indus Motor (INDU) and Honda Car (HCAR) registered sales increases of 36 percent YoY and 11 percent YoY, respectively. INDU sales were led by Yaris, which again outsold total HCAR sales.

    New entrants into Pak Auto space, Hyundai Nishat sold 515 units in Jan-2021, while Lucky Motor sold around 2,500 units, as per our channel checks.

    Car sales have increased by 26 percent MoM in January 2021. The increase was driven by HCAR (+39 percent MoM) and INDU (+36 percent MoM) as the New Year effect kicked in.

    Atlas Honda (ATLH) recorded motorbike sales of 114,001 units in Jan-2021, up 20 percent YoY. In 7MFY21, sales have increased by 20 percent YoY.

    Tractor sales in Jan-2021 are up by 135 percent YoY and 57 percent MoM. Millat Tractors (MTL) recorded increase of 195 percent YoY (+30 percent MoM) while Al Ghazi Tractors (AGTL) sales increased by 53 percent YoY (+290 percent MoM), respectively.

    The analysts said that demand for cars to grow stronger owing to low interest rates environment and pickup in economic activity.

  • 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.

  • Car sales jump up by 19 percent in July – November

    Car sales jump up by 19 percent in July – November

    KARACHI: The car sales of locally manufactured vehicles have increased by 19 percent during first five months (July – November) of current fiscal year owing to lower interest rates and higher demand.

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  • Car sales increase by 8 percent in first quarter

    Car sales increase by 8 percent in first quarter

    KARACHI: The sales of locally manufactured cars have registered an 8 percent increase in the first quarter (July – September) 2020/2021 in Year on Year (YoY) basis due to restoration of economic activities after lifting of coronavirus lockdown.

    According to statistics released by Pakistan Automobile Manufacturers Association (PAMA) on Monday the car sales went up to 37,017 units during the first quarter of the current fiscal year as compared with 34,308 units in the corresponding quarters of the last fiscal year.

    According to analysis by Topline Securities, the car sales have posted an increase of 18 percent YoY in September 2020 to 13,882 units. Indus Motor (INDU) and Honda Car (HCAR) registered sales increase of 106 percent YoY and 87 percent YoY, respectively.

    However, Pak Suzuki Motor Company (PSMC) sales declined by 20 percent YoY due to drop in Alto’s sales by 37 percent YoY (last year Alto saw high numbers due to its recent launch).

    Car sales also increased by 19 percent MoM in September 2020. The increase was driven by INDU’s increase of 32 percent MoM as Yaris sales picked up 42 percent MoM. HCAR sales also improved by 20 percent MoM as BRV sales increased by 50 percent MoM.

    New entrants into Pak Auto space continue to perform well with Hyundai Nishat selling 316 units (+187 percent MoM) in September 2020, while Kia Lucky Motors (KLM, non-member of PAMA) sold around 1,500 units

    KLM is also planning to shift to double-shift production from January 2021 to meet high customer demand.

    Hyundai Nishat had launched Tucson in the SUV category last month. A strong market response is visible as the number of units have jumped to 215 in September 2020 from 22 last month.

    Atlas Honda (ATLH) recorded motorbike sales of 109,002 units in September 2020, up 45 percent YoY. In 1QFY21, sales have increased by 22 percent YoY.

    Tractor sales in September 2020 are up 12 percent YoY, while also increased by 49 percent MoM. Millat Tractors (MTL) recorded an increase of 69 percent YoY while Al Ghazi Tractors (AGTL) sales declined by 31 percent YoY, respectively.

    The analysts expect demand for cars to grow stronger owing to lower interest rates for auto financing along with pickup in economic activity amidst declining cases of COVID-19.

  • Car sales climb up by 16pc in August

    Car sales climb up by 16pc in August

    KARACHI: The sales of locally manufactured cars have recorded 16 percent increase to 11,678 units in August 2020 as compared with 10,102 units in the same month of the last year.

    According to data released by Pakistan Auto Manufacturers Association (PAMA) Indus Motor (INDU) and Honda Car (HCAR) registered sales increase of 52 percent YoY and 72 percent YoY, respectively. However, Pak Suzuki Motor Company (PSMC) sales declined by 9 percent YoY.

    Analysts at Topline Securities said that Kia Lucky Motors (non-member of PAMA) continued to perform well and is also planning to shift its production to double shift from Jan-2021 to meet high customer demand. As per our channel checks KIA sold around 1500 units for August 2020.

    Another new entrant Hyundai Nishat launched Tucson in SUV category during the outgoing month and successfully sold 22 units along with 88 units of Porter H-100 (a commercial pickup).

    Moreover, car sales increased by 1 percent MoM in Aug-2020, in which major increase was reported by PSMC with 20 percent MoM rise, however INDU and HCAR reported declines of 18 percent MoM and 8 percent MoM, respectively.

    Atlas Honda (ATLH) recorded motorbike sales of 85,000 units in Aug-2020, up 6 percent YoY. However, sales declined by 10 percent MoM.

    Tractor sales in Aug-2020 are up 12 percent YoY, while down by 21 percent MoM. Millat Tractors (MTL) recorded increase of 80 percent YoY while Al Ghazi Tractors (AGTL) sales declined by 51 percent YoY, respectively.

    We expect demand for cars to grow stronger as lower interest rates for auto financing along with pickup in economic activity amidst declining cases of COVID-19 has revived demand for new cars.

  • Not a single car sold in April 2020

    Not a single car sold in April 2020

    KARACHI: Automobile manufacturers have witnessed worst-ever month as not a single car was sold during April 2020 owing to lockdown imposed by the federal and provincial governments to prevent coronavirus pandemic.

    The lockdowns due to COVID-19 imposed by the Federal and Provincial governments in the later half of Mar-2020 till date has resulted in no car sales during Apr-2020, as reported by Pakistan Automobile Manufacturers Association (PAMA).

    The lockdowns has resulted in closure of plant operations along with car dealerships across the country.

    As a result, in 10MFY20 car sales have declined by 52 percent YoY.

    Honda Car (HCAR) sales are down by 64 percent YoY, followed by Indus Motors (INDU) and Pak Suzuki Motor Company (PSMC) with declines of 54 percent YoY and 47 percent YoY, respectively.

    ATLH (motorbikes) too recorded nominal sales of 2,783 units compared to pre-COVID sales of around 100k units.

    Keeping in view the importance of the Wheat harvesting season, the governments allowed the tractor industry to resume their operations in mid-April-2020.

    The tractor sales during Mar-2020 recorded a decline of 63 percent YoY and 30 percent MoM.

    Al Ghazi Tractors (AGTL) reported an increase of 19 percent MoM in its sales, while Millat Tractors (MTL) sales declined by 51 percent MoM. Last month, MTL sales were up MoM (+2 percent) whereas AGTL recorded a MoM decline (-22 percent MoM).

  • Car sales plunge by 42pc in July 2019

    Car sales plunge by 42pc in July 2019

    KARACHI: Car sales have witnessed a sharp decline of 42 percent in July 2019 owing to massive depreciation in local currency and tax measures taken in the budget 2019/2020, analysts said on Monday.

    According to statistics released by Pakistan Automobile Manufacturers Association (PAMA), the car sales were 12,482 units in July 2019 as compared with 21,344 units in the same month of the last year.

    Industry analysts said that the local currency witnessed sharp decline during current calendar year, which hampered the growth in car sales.

    The significant decline was witnessed in cars with engine capacity of 1300CC and above. The sales of this segment fell by 62.6 percent to 3,607 units in July 2019 when compared with 9,659 units in the same month of the last year. The production of this category was also declined to 5,582 units as compared with 9,833 units.

    The sales of small cars with engine capacity of 1,000 CC also fell by 53.73 percent during the period under review. The sales of cars under this category fell to 2,051 units in July 2019 as compared with 4,433 units in the same month of the last year.

    The sales of cars below 1,000 CC, however, increased to 5,310 units from 4,783 units.