Auto sector: Car sales surge 28% during 10MFY15

Clock in at 143,000 units; April’s figures show 57% increase year-on-year.

KARACHI: Local car sales including light commercial vehicles (LCV) during the first 10 months (Jul- Apr) of fiscal year 2015 stood at 143,000 units, up 28% compared to 112,000 units in the same period previous year, according to figures released by the Pakistan Automotive Manufacturers Association (PAMA) on Tuesday.

If figures for the taxi scheme, which was launched by the Punjab government in February 2015, are to be removed, sales growth would drop to 20% year-on-year (YoY).

Company-wise figures show that sales of Pak Suzuki Motors, the largest car producer in the country, stood at 77,000 units during the first 10 months of fiscal year 2015 (up 23% YoY).

Meanwhile, sales of Indus Motor Company and Honda Atlas Cars stood at 46,000 units and 18,000 units, respectively (up 55% YoY and 0.2% YoY).

Only in April 2015, local sales jumped by 57% YoY to 19,176 units compared in 12,250 units in April 2014.

Company data in the month of April 2015 shows that sales of Indus Motor remained higher, up 105% YoY and Honda Atlas Cars up 22% YoY, posted sales of 5,837 units and 2,376 units respectively in April 2015.



The sales of Pak Suzuki Motors stood at 10,956 units, up 49% YoY.

Pakistan auto sector remained one of the top performers at the KSE-100 Index in calendar year to-date as it posted a return of 23% against market’s return of 1.2%, outpacing it by 22.2%, AKD Research reported on Tuesday.

Published in The Express Tribune, May 13^th,  2015.

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