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Car sales soared 45pc in July-Jan

Car sales soared 45pc in July-Jan

KARACHI: Sales of locally assembled cars jumped 44.85 per cent to 107,907 units during the first seven months (July-January) of 2015-16 from 74,497 units in the same period last year, Pakistan Automotive Manufacturers Association data showed on Wednesday.

In 1,300cc and above, buyers lifted overall 49,168 units as compared to 40,388 a year ago. Toyota Corolla led the sales with 33,225 units as compared to 26,593 in July-January 2014-15. Combined sales of Honda Civic and City increased to 13,625 as compared to 11,799 units last year. Suzuki Swift sales inclined to 2,318 from 1,974 units.

Total sales of 1,000cc cars swelled to 14,145 from 9,973 units in the same period last year. Suzuki Cultus share was 8,976 as compared to 7,747 units, followed by Wagon R — 5,165 units from 2,180 a year ago.

Suzuki Mehran and Bolan sales went up to 22,292 and 22,302 from 16,164 and 7,972 units, respectively.

Total vehicle sales, including LCVs, vans and jeeps, registered a 57pc growth to 133,437 units during the period under review as compared to 85,135 a year ago.

Mohammad Tahir Saeed of Topline Securities attributed the sector’s performance to the rise in auto financing, Punjab Taxi Scheme and improving law and order situation.

He predicted the local car sales to grow 15pc (206,777 units) in FY16 due to expected completion of taxi scheme in February 2016 and decline in Civic sales volume in anticipation of new model by mid-2016.

He said that the delivery time of new Toyota Corolla was still hovering between two to four months.

Tractor sales, however, posted a 40pc year-on-year decline to 14,727 units due to the delay in provincial tractor subsidy schemes.

Punjab and Sindh governments, in budget FY16, announced a subsidy of 25,000-29,000 tractors but, as per media reports, Punjab has suspended its scheme due to lack of funds.

Millat tractors sales declined to 9,178 from 14,965 units while Al-Ghazi tractors sales dipped 45pc year-on-year to 5,004 units.

Trucks and buses sales, however, posted an increase of 40pc year-on-year to 3,246 units during the period.

Toyota Fortuner sales fell to 332 from 432 units and Sigma Defender sales declined to 164 from 293 units a year ago. Suzuki Ravi sales climbed to 22,136 from 7,629 units, while Toyota Hilux increased to 2,891 from 2,273 units.

Courtesy : Dawn News



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