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November figures: Auto sales fall 6%, but still beat expectations

KARACHI: Local automobile sales including passenger cars and light commercial vehicles stood at 17,800 units in November 2016, down 6% compared with sales in November 2015, according to the latest data released by the Pakistan Automotive Manufacturers Association.

Despite the fall, the November sales exceeded expectations of 16,000 units, said Topline Securities in its report.

After setting aside sales made under the Punjab taxi scheme, car sales posted a significant growth of 20% year on year in November 2016. Toyota Corolla, Suzuki Mehran and Suzuki Bolan were the focus of consumer demand with sales of 5,019, 3,051 and 1,799 units respectively.

Total car sales in the first five months of current fiscal year 2016-17 were 81,491 units, down 13% year on year. Excluding sales under the taxi scheme, volumes registered an increase of 12% year on year.

“Car sales will remain buoyant in fiscal year 2017 despite conclusion of the Apna Rozgar Taxi Scheme and locally manufactured car sales will stand at 210,000 units, a rise of 11% year on year (ex-taxi units),” the Topline report said.

Moreover, with the arrival of an average 5,000 imported cars per month, total sales in the country will be 270,000 units in the current fiscal year.

Honda Atlas Cars sold 14,155 units in the first five months of FY17, an increase of 49% year on year. Indus Motor’s sales volume dropped 8% with the company selling 23,783 units in July-November 2016.

Pak Suzuki Motor Company sold 43,553 units in the first five months, showing a fall of 25% year on year, primarily because of lower sales of Bolan and Ravi variants after the wrapping up of the taxi scheme.

courtesy : Express Tribune



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