Sales of locally manufactured cars (including LCVs, vans and jeeps) increased 4%, clocking in at 44,550 units in the first four months of the ongoing fiscal year, compared to 42,796 units in the same period previous year.
According to data issued by the Pakistan Automotive Manufacturers Association (Pama), October’s sales figures stood at 12,651 units compared to September’s sales of 12,693. However, October’s sales were up 27% compared to October 2013’s sales of 9,955 units.
The surge in October sales was expected after the new Corolla model was launched by Indus Motors, according to a Topline Securities report issued on Tuesday.
“Local car sales will further improve in the next two months due to the launch of a few new models and demand generated by government schemes,” Global Research analyst Imran Ahmed Patel told The Express Tribune.
The newly-launched Corolla model has seen advance bookings being made, meaning that Indus Motors’ production level will remain high. Moreover, Patel added, the launch of the Apna Rozgar scheme in which the government is offering pick-ups and vans will definitely increase the sales of Pak Suzuki -- the largest carmaker with over 50% market share in the country.
Replying to a question, he said since the Corolla’s 1,800cc variant bookings are full until April 2015, it may divert some of its customers to Honda Civic -- its only competitor in the 1.8L category -- helping the company’s sales in the next couple of months.
Some analysts believe that the expected cut in discount rate from the central bank may also increase car sales, as it will help push car financing in the country.
Indus Motors’ sales increase 71% year-on-year
Indus Motor sold 4,425 units in October 2014, up 71% compared to 2,595 units in the same month last year. On a month-on-month basis, the company’s sales posted a slight decline to 4,425 units compared to 4,691 units in September 2014. During the first four months of fiscal year 2014-15, sales increased by 30% to 14,287 units.
Indus’s flagship ‘Corolla’ posted a decline of 6% on a month-on-month basis to 4,099 units compared to 4,358 units in September 2014 mainly due to Eid holidays in October. On a yearly basis, Corolla’s sales surged significantly by 81% compared to 2,266 units in the same month last year. Sales of Fortuner improved 41% to 79 units versus 56 in September 2014.
Pak Suzuki’s sales up 16%
Among individual companies, Pak Suzuki’s sales improved to 6,441 units in October 2014, up 16% year on year and 4% month on month. During the first four months of fiscal year 2015, sales of Pak Suzuki remained fairly stable at 23,472 units compared to 23,522 units in the same period previous year.
The company witnessed an improvement of 38% in its Cultus model to 1,264 units versus 917 in September 2014, while a 10% month on month increase was observed in Bolan to 1,208 units versus 1,098 units in September 2014. The sales of Wagon-R also increased 24% to 321 units compared to 258 units in September 2014.
Honda’s goes up 1%
Honda Cars sold 1,735 units in October 2014, up 1% compared to 1,720 units in the same month last year. On a month-on-month basis, the company’s sales remained stable in October 2014. During the first four months of 2015, sales decreased by 17% to 6,622 units.
Published in The Express Tribune, November 12th, 2014.
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