KARACHI: Sales of locally assembled automobiles, including jeeps and light commercial vehicles, increased to 25,567 units in April 2018, up 40% compared with 18,326 units in the same month of the previous year, showed data released by the Pakistan Automotive Manufacturers Association (PAMA) on Friday.
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.
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.
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.