The total car sales of the local manufacturers and assemblers enhanced to 139,570 units, up by 1.69 per cent in the last nine months of the current fiscal year compared to 137,206 units sold in the same period last year, the data revealed by Pakistan Automotive Manufacturers Association (PAMA) stated.
Car sales have increased despite the inclusion of Punjab taxi scheme, while sales of Suzuki Motors Company have declined by 22 per cent only because of the Punjab taxi scheme.
In March 2017, the automotive industry sold 18,295 units, up by 16.52 per cent compared to 15,272 units sold in the March 2017 and up by 6.4 per cent or 17,119 units compared to February 2017.
“Auto sales (including LCVs and jeeps) continued to witness a robust double digit growth in the nine-month period of the current fiscal year (ex-Taxi scheme),” analyst said. According to analysts, car sales in 2016-17 will stand firm at 270,000 units, including imports of 60,000 units, the analyst added.
In March 2017, car sales (including LCVs and jeeps) came at par with the expectations. On a MoM basis, sales registered a growth of 4 per cent.
Pak Suzuki Motor Company’s (PSMC) volumes remained strong (ex-Taxi scheme) due to robust sales volumes of Wagon-R and Bolan in the nine months of 2016-17. Wagon-R reached new heights with 12595 units in the last nine months.
The PSMC sold (only cars) 67,474 units in last nine months, down by 22 per cent compared to 82,320 units sold in same period 2015-16. The major reason of this decline was the Taxi scheme of the Punjab government, the analyst said.
‘Cultus’ production declined to 710 units (-53 per cent MoM) as PSMC gears up to launch ‘Celario’ named as ‘New Cultus’ later this month (official launch expected next weekend). For the first time ever, ‘Wagon-R’ sales crossed 1,700 March in March 2017.
Indus Motors (INDU) witnessed a contraction during the first nine months due to operational issues. ‘Fortuner’ sales, at 243 units (+4x YoY), achieved the highest ever mark in March 2017, where the waiting period is 6 months.
Honda Car (HCAR) sales continued to depict a buoyant trend. Moreover, the source said, around 5,000 units of the new ‘BR-V’ have been booked up till now.
Honda sold 28,120 units in last nine months up by 34 per cent this year compared to 18,542 units sold in last nine month of 2015-16.
Tractor manufacturers continued to witness buoyancy in sales with off-take growing by 80 per cent in 2016-17. The analysts said that better off-take during FY17 on the back of lower retail prices (reduced GST) and improving crop yield, while continuation of fertilizer subsidy will further support liquidity among farmers. Moreover, tractor exports by MTL under its agreement with AGCO will further elevate the volumes of the company.
Truck sales of PAMA member companies in nine-months 2016-17 remained strong. A major increase was seen in sales of GHNI followed by Master Corporation and HINO. This buoyancy is to continue, fueled by increased demand under the CPEC and due to the improvement in law and order.
Volumes of two and three wheelers continued to post growth on the back of an improvement in the law and order situation of the country.
