Auto sector: Locally assembled cars sales fall 31%

KARACHI:

Sales of locally assembled cars dropped by 31% to 49,092 units in the past five months (July to November) compared to the corresponding period of previous year, data released by the Pakistan Automobile Manufacturers Association showed.

However, month-on-month figures showed that car sales fell by only 3% compared to October.

Since the start of the current fiscal year 2012-13 in July, sales of locally assembled vehicles have remained depressed.

Segment-wise breakdown of data revealed that sales of 1,000-1,300cc engine capacity cars declined by a huge 55% year-on-year in the first five months of 2012-13 while demand increased by 4% MoM in November.

Sales of economy segment (less than 1,000cc) cars fell substantially by 23% YoY in five months, but rose strongly by 30% MoM in November.

Published in The Express Tribune, December 14^th, 2012.