Car sales increase by 9%, signalling a recovery
KARACHI: As a result of the government easing restrictions on the import of auto parts and kits in response to the country’s improved foreign exchange situation, car sales somewhat rebounded in September, rising 9% to 10,000 units.
According to data provided by the Pakistan Automotive Manufacturers Association (PAMA), Sunny Kumar, an analyst with Topline Research, reported that compared to the previous month, Pakistan’s auto sales increased 10% to 8,300 units in September.
“Car sales came in at 10,000, up 9% month-over-month and down 23% year-over-year when non-PAMA members are included. According to him, the decrease in CKD (completely knocked down) kit import problems was the cause of the month-over-month growth.
However, he emphasised that the main causes of the reduction in year-over-year sales were the rising cost of cars, high vehicle loans, and consumers’ limited purchasing capacity.
Due in large part to the low base in the preceding month, when the firm only sold 674 units, Honda Atlas Cars (HCAR) experienced the biggest increase of 99% month-over-month, reaching 1,342 units in September.
Only Pak Suzuki Motor Company (PSMC), which sold 4,234 units with an 8% fall in Alto sales, saw a month-over-month decline of 1%.
Other automobile models, such as the Ravi, Bolan, and Cultus, saw an increase in sales of 58%, 38%, and 9%, respectively. At 506 and 359 units, respectively, the demand for the Swift and Wagon-R remained stable month over month.
Porter sales increased by 48% to 177 units in September while Hyundai sales increased by 5%. Sales at Indus Motor (INDU) increased by 3% month over month, driven by a 27% increase in Fortuner and Hilux sales.