Sales of locally assembled cars rebound, rise 7.5%
Analysts say sales to continue climbing as import stock depletes .
The govt had reduced the age-limit of used cars from five years to three years. Since then, a gradual decrease in used car imports has been helping sales of locally assembled vehicles. PHOTO: FILE
KARACHI:
The sales of locally assembled vehicles (including LCVs, vans and jeeps) jumped 7.5% – a healthy increase – to 32,841 units from 30,541 units during the first quarter of the fiscal year 2013-14 compared to the same period of last year.
In September alone, sales volumes remained stable, clocking in 1% higher at 11,166 units from last month, and 15% compared to the corresponding month of 2012.
Analysts believe the sales of locally assembled cars will improve in the coming months due to lower influx of imports of second-hand Japanese cars. The government had reduced the age-limit of used cars from five years to three years in December 2012. Since then, a gradual decrease in used cars imports was helping the sales of locally assembled vehicles.
However, local assemblers say that they do not see much improvement in sales going forward into fiscal 2014.
Amongst individual companies, Pak Suzuki sales during the increased 1.7% to 17,966 units, against 17,659 units sold in the same period of last year.
However, sales surged 5.1% to 6,287 units in September alone compared to August, and 4.1% when compared to September 2012.
In the first quarter of fiscal 2014, sales of Indus Motor Company improved 1.4% to 8,419 units over the last fiscal’s first quarter. Indus Motor’s flagship automobile Corolla’s sales were up 1.1% to 7,109 units in the quarter from 7,032 units in the corresponding quarter of fiscal 2013.
However, Indus Motor’s sales have been on a decline, and keeping up with the trend in September alone, sales fell 11% to 2,602 units against 2,923 units sold in August.
Maintaining previous month’s record, Atlas Honda car sales surged 43% to 6,304 units in the first quarter of fiscal 2014 compared to the same period of last year, mainly due to sales of the new civic model.
In the quarter, sales of civic increased 87%, while city sales rose 20%. The massive growth in sales of the civic is attributable to the launch of the newer model.
Published in The Express Tribune, October 12th, 2013.
The sales of locally assembled vehicles (including LCVs, vans and jeeps) jumped 7.5% – a healthy increase – to 32,841 units from 30,541 units during the first quarter of the fiscal year 2013-14 compared to the same period of last year.
In September alone, sales volumes remained stable, clocking in 1% higher at 11,166 units from last month, and 15% compared to the corresponding month of 2012.
Analysts believe the sales of locally assembled cars will improve in the coming months due to lower influx of imports of second-hand Japanese cars. The government had reduced the age-limit of used cars from five years to three years in December 2012. Since then, a gradual decrease in used cars imports was helping the sales of locally assembled vehicles.
However, local assemblers say that they do not see much improvement in sales going forward into fiscal 2014.
Amongst individual companies, Pak Suzuki sales during the increased 1.7% to 17,966 units, against 17,659 units sold in the same period of last year.
However, sales surged 5.1% to 6,287 units in September alone compared to August, and 4.1% when compared to September 2012.
In the first quarter of fiscal 2014, sales of Indus Motor Company improved 1.4% to 8,419 units over the last fiscal’s first quarter. Indus Motor’s flagship automobile Corolla’s sales were up 1.1% to 7,109 units in the quarter from 7,032 units in the corresponding quarter of fiscal 2013.
However, Indus Motor’s sales have been on a decline, and keeping up with the trend in September alone, sales fell 11% to 2,602 units against 2,923 units sold in August.
Maintaining previous month’s record, Atlas Honda car sales surged 43% to 6,304 units in the first quarter of fiscal 2014 compared to the same period of last year, mainly due to sales of the new civic model.
In the quarter, sales of civic increased 87%, while city sales rose 20%. The massive growth in sales of the civic is attributable to the launch of the newer model.
Published in The Express Tribune, October 12th, 2013.