Driving ahead: Locally assembled auto sales increase

Honda Cars leads in terms of percentage increase in sales.

KARACHI: Locally assembled car sales (including light commercial vehicles, commercial vehicles, vans and jeeps) in the first 11 months of the outgoing fiscal year touched 124,807 units, a year-on-year increase of 2.6% compared to 121,636 units in the same period last year.

On a monthly basis, auto sales were recorded at 11,809 units in May 2014, which was stable compared to previous month but down 7% from May 2013.

Amongst individual companies, Pak Suzuki Motor Company’s (PSMC) sales increased 1.8% year-on-year to 69,866 units in July-May 2013-14 compared to 68,660 units last year.

On a monthly basis, PSMC’s sales dropped 5% to 6,993 units in May 2014, compared to 7,359 units in April 2014. Year-on-year, sales remained fairly stable.

During 11 months, Indus Motor’s sales declined 3.1% to 32,498 units compared to 33,530 units in the same period of previous year. However, in May, the company posted a 2.2% increase in sales to 2,917 units from 2,854 units in April 2014.

On the other hand, sales declined by a massive 22.6% against 3,768 units in May 2013.

“We believe the decline in Indus Motor’s volumes is due to the expected launch of new Corolla model in July,” Topline Securities said in a report on Wednesday.

Honda Cars’ sales surged 11% to 21,002 units in July-May 2013-14. In May alone, its sales rose 16% month-on-month to 2,260 units.

Published in The Express Tribune, June 12^th, 2014.

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