The secretary revealed that he had processed subsidy cases for the release of 80% of the claims up to February for financial year 2017-18PHOTO: REUTERS
An increase of 14% was also witnessed in April compared with sales in March 2018, demonstrating that the positive momentum continued, according to a research report by AHL Research.
The stellar performance was driven by Pak Suzuki Motor Company (PSMC) as the company sold the entire inventory of prior months and posted sales of 14,781 during the period under review.
Corporate Corner: JW Forland sets up in Pakistan
PSMC sales surged by 61% year-on-year as Ravi and Wagon R models led the way. Other brands like Bolan, Swift and Cultus showed impressive growth of 89%, 77% and 58% year-on-year, respectively, according to Topline Securities.
"Moreover, Pak Suzuki delivered its March commitments in April, resulting in stronger April sales."
Similarly, Indus recorded sales of 6,183 units, up by 10% year-on-year largely driven by Fortuner, up 147% year-on-year. Hilux and Corolla sales surged by 6% and 4%, respectively.
Chipmaker Nvidia sees fewer crypto miners, more gamers in future
Honda Cars (HCAR) sales jumped by 31% year-on-year to 4,603 units, where robust growth came from sales of City due to its rising popularity.
Cumulatively, in 10MFY18, car sales depicted 23% growth rate to 218,301 units, where both PSMC and HCAR crossed last year's sales.
Tractor sales continued its positive trajectory and portrayed 27% year-on-year growth to 7,979 units owing to continuation of lower sales tax of 5% on tractors. Among companies, AGTL outperformed in tractors segment with growth of 35%, while Millat sales went up by 24% year-on-year.
Published in The Express Tribune, May 12th, 2018.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ