Car sales climb 57% to 139,613 units in July-May

KARACHI: Car sales rose 57% to 139,613 units in the first 11 months of the current 2020/21 fiscal year, with low-cost auto finance complementing the pickup in consumer demand, showed Tuesday sector data.

Data from the Pakistan Automotive Manufacturers Association (PAMA) showed that car sales amounted to 89,130 ​​units during the July-May period of the last fiscal year.

In May, car sales rose about three times to 12,934 units, up from 3,800 in the same month last year, in which the coronavirus lockdown severely affected industrial and economic activities.

On a month-to-month basis, there was a 10% drop from the 14,435 units sold in April.

An analyst said sales remained weak in May of last year amid the Covid-19 lockdown, which began on March 22 and factories were partially opened in May. The comparison of May 2021 with May 2020 could not be justified due to the lockdown, he said.

Federal Budget 2021-22 proposals suggested a reduction in taxes for cars 850cc and smaller, which would benefit Pak Suzuki’s Alto, which could drop in price by over Rs 100,000 per unit, according to analysts.

Trucks and buses, jeeps, tractors, pickup trucks, three-wheelers and motorcycles also saw increased sales.

In July-May, sales of cars of 1,300 cc and larger were recorded at 68,055 units, up 92.6% from sales of 35,330 units last year.

In May, a total of 5,484 units of 1,300cc and larger cars were sold. It included 1,581 units of Honda Civic and City, 31 units of Suzuki Swift, 1,514 units of Toyota Corolla, 2,099 units of Toyota Yaris and 259 units of Hyundai Elantra. Suzuki did not produce any Swift car units last month.

In 11 months, 1,000cc cars have seen sales increase by 50%, from 17,985 units to 27,045 units. In May, a total of 3,311 1,000cc cars were sold compared to 1,308 units in May of last year.

Below 1,000 cc, sales were recorded at 44,513 units compared to 35,815 units sold last year. In May, a total of 4,139 cars were sold, up from 1,690 units in May last year.

Buses and trucks increased to 3,942 units in July-May, from 3,380 units in the same period last year.

Jeep sales increased collectors to 10,184 units from 3,217 units sold during the same period last year. However, May sales of 993 units were down from April sales of 1,101 units.

In July-May, pickup sales increased to 17,850 units from 10,862 units. Tractor sales increased to 45,667 units from 27,413 units.

Rickshaw and motorcycle sales rose 43% to 1.74 million units in the 11-month period, from 1.22 million units in the same period last year. However, rickshaw and motorcycle sales in May remained lower than April sales, according to PAMA.

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