Auto sales grow 27 percent

  • An annual increase of 22.3 percent to 50,640 units from 41,405 was observed in sales of cars during first quarter
Business

KARACHI – Sales of cars and light commercial vehicles (LCVs), jeeps and vans showed an upward trajectory with an annual increase of 27 percent to 60,469 units during first quarter (July-September) of running fiscal year 2017-18.

According to data released by the Pakistan Automotive Manufacturers Association (Pama) on Tuesday, an increase of 22.3 percent to 50,640 units from 41,405 was observed in the sales of cars.

With the sale of 9,829 units compared to last year’s 6,240 units, a growth of 57.5 percent was registered in the wake of LCVs.

In September, the sales of local vehicles, including LCVs, vans and jeeps increased 17 percent year-on-year with the sale of 18,798 units. On a month-on-month basis, a decrease of 15pc has been registered due to holidays on the eve of Eid during this month.

Honda Atlas Cars marked a 24pc annual growth in September with the successful launch of its new models, Civic BRV, but it faced a 27pc dip on a monthly basis due to holidays. In the first quarter of 2017-18, Honda’s sales showed a growth of 56pc to 12,606 units.

Pak Suzuki registered a 30pc increase to 32,777 units on year-on-year basis during the first quarters. An increase of 43 percent in Mehran’s sale, 60 percent in Wagon and 33pc in Cultus has been observed.

Indus Motor Company showed minor growth in September and first quarter due to production constraints.

Sales of Toyota Corolla marked a slight surge from 12,765 units from 12,655 units during first quarter, while sales of Toyota Fortuner increased to 793 units from 145.

Similarly, the sales of tractor rose 74pc in September on an annual basis. The sales have improved due to subsidies announced by the Sindh government for farmer.