The sale of passenger cars, including KIA vehicles, increased 55pc year-on-year in February 2021.
According to data released by the Pakistan Automotive Manufacturers Association (PAMA), Pak Suzuki Motor Company Ltd (PSMC) once again took the lead with a massive 66pc YoY increase in sales. PAMA attributed this growth to a 162pc surge in Alto and 106pc increase in Ravi sales, with Alto sales clocking in at 4,245 and Ravi at 1,268.
Among other industry leaders, Honda Atlas Cars (Pakistan) Ltd (HCAR) registered a 13pc YoY increase in sales, whereas Indus Motor Company (INDU) reported a 3pc YoY drop.
New entrants into the country’s auto space, Hyundai Nishat and Lucky Motor (KIA), sold 651 units and 2,500 units in Februray 2021, respectively.
Meanwhile, on a month-on-month basis, sales of passenger cars declined 6pc in February 2021 as compared to January 2021. “The decrease came on the back of decline in INDU sales (-20pc MoM), which was largely due to seasonally high January sales and some supply-side disruptions,” PAMA stated.
In the motorbike category, Atlas Honda Ltd (ATLH) sold 104,005 units in Feb 2021, up 16pc YoY.
Moreover, tractor sales increased 42pc YoY in Feb 2021 but down 15pc MoM. Millat Tractors (MTL) recorded a growth of 49pc YoY (-22pc MoM), while Al Ghazi Tractors (AGTL) sales increased 30pc YoY (+7pc MoM), respectively.