The sale of motorcars in Pakistan (excluding KIA) increased 15 per cent year-on-year to 13,870 units in December 2020 when compared with the December 2019, data resealed by the Pakistan Automotive Manufacturers Association (PAMA) showed. However, if the sales figures of Lucky Motor Corporation-KIA (a non-member of PAMA) are included, the overall sales increased 20pc YoY in Dec 2020.
As compared to Dec 2019, the sales of Indus Motor Company (INDU) and Honda Atlas Cars (Pakistan) Limited (HCAR) registered an increase of 72pc YoY and 76pc YoY, respectively. On the other hand, Pak Suzuki (PSMC) sales declined by 13pc YoY.
New entrants Hyundai Nishat sold 511 units, while Lucky Motor-KIA sold around 600 units in Dec 2020, as per data issued by Topline Research Pakistan.
On a month-on-month basis, car sales declined by 4pc in Dec 2020 as compared to Nov 2020. “The decline was driven by HCAR (-21pc MoM) and INDU (-19pc MoM) as the new-year effect kicked in.”
Meanwhile, Atlas Honda (ATLH) recorded motorbike sales of 106,030 units in Dec 2020, up 25pc YoY. Cumulatively, in the first half of FY21, ATLH sales have increased by 20pc YoY.
Also, tractor sales increased 188pc YoY but only 3pc MoM in Dec 2020; Millat Tractors (MTL) sales surged 196pc YoY (+28pc MoM), while Al Ghazi Tractors (AGTL) sales increased 146pc YoY (-62pc MoM), respectively.
“We expect demand for cars to grow stronger owing to low interest rates environment and pickup in economic activity,” the research house commented.