Six-month figure also registers 27% growth. PHOTO: REUTERS
Cumulatively, industry sales during the first six months (July to December) of fiscal year 2018 exhibited 27% growth to 124,138 units compared with 97,533 units in the same period of last year.
The change in import procedure in October 2017 has led to a decline in used car imports while rising demand from online ride-hailing services has also contributed to a strong demand in December 2017, according to a Topline Securities report issued on Wednesday. Pak Suzuki continues to be the major beneficiary as majority of used car imports fall under the smaller-engine segment.
The company exhibited robust growth where sales rocketed 29% year-on-year as price conscious models Mehran (up 22% year-on-year), WagonR (up 100% year-on-year), and Cultus (up 15%) all exhibited sales growth.
In the first half (Jul-Dec) of fiscal year 2017-18, sales were up 32% year-on-year for Pak Suzuki to 69,224 units.
Honda Atlas Cars sales stood at 3,213 units in December 2017, staying up 33% year-on-year or down 28% month-on-month due to strong order book.
In first half (Jul-Dec) of fiscal year 2017-18, sales grew 50% year on year to 24,780 units due to success of new models of Honda Civic and Honda BR-V recently revamped Honda City.
Indus Motor, the makers of Toyota Corolla in Pakistan, lagged behind peers with a decline of 3% year-on-year and 14% month-on-month as it continues to face capacity constraints, though in first half (Jul-Dec) of fiscal year 2017-18, sales are up 6% year-on-year, the report said.
Published in The Express Tribune, January 11th, 2018.
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