Indus Motor Company – the makers of Toyota Corolla – sales remained stagnant at 3,696 units in April. PHOTO: FILE
Analysts attribute the drop in sales to discontinuation of the Punjab Taxi Scheme that concluded in the middle of 2012. Discontinuation of the Daihatsu Cuore and the Suzuki Alto last year also played its part in the decline of car sales.
In terms of volumetric outlook, analysts are optimistic for the remainder of the fiscal year as the impact of imported used cars will finally start to subside.
A full recovery is expected 2014 onwards, where the impact of used/imported cars will eventually die down, a BMA Capital report said on Friday.
Market leader, Pak Suzuki Motors, saw its sales go down 12% month-on-month (MoM) as Bolan and Ravi – pickup truck – sales decreased by 42% MoM and 165% year-on-year (YoY), and 9% MoM and 3% YoY respectively.
The company’s prime product also failed to compensate for the lost volumes as Mehran sales remained almost unchanged. Cultus also witnessed a decline of 14% MoM in its volumes; however it seems that its volumes were up 49% YoY by virtue of being the only car in the 1000cc segment.
Indus Motor Company – the makers of Toyota Corolla – sales remained stagnant with total sales of 3,696 units in April. Corolla, the revenue driver for the car assembler, saw its sales stay constant at 3,284 units in the month.
Sales from Fortuner, a new product of Indus Motor, provided some support to the company’s total volumes after the discontinuation of Daihatsu Cuore, an 800cc engine that the company was making until last year.
Atlas Honda continues to keep its volumetric streak going as the company sold 1,100 units of Honda City in April, however, Honda Civic sales lost momentum as sales dipped 44% MoM.
Published in The Express Tribune, May 11th, 2013.
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