Pakistan car sales related to those locally assembled increased effectively during the July to January duration as they went up 44.85% reaching about 107,907 pieces. According to Pakistan Automotive Manufacturers Association this was 74,497 pieces during the same duration last year.
For cars with the 1300 engine capacity the increase went up from 40,388 cars to 49,168 cars this year. As usual Toyota Corolla won the race selling 33,225 units in comparison to 26,593 units last year from July to Jan 14-15. Furthermore, combining sales from other models like Honda Civic and City went from 11,799 to 13,625 units whereas Suzuki Swift went from 1,974 units to 2,318 units as well.
For cars with a 1000 cc engine the rate went up from 9,973 pieces to 14,145 where Suzuki Cultus contributed by 8,976 in comparison to 7,747 pieces last year whereas Wagon R increased from 2,180 last year to 5,615 this year. In addition to that Bolan went up from 16,164 to 22,292 and Suzuki Mehran went from 7,972 to 22,302 this year.
Overall auto sales which combine vans, jeeps as well as LCVs showed a 57% increase reaching 133,437 pieces in comparison to 85,135 last year.
It is due to the rise in auto financing through Punjab’s Taxi scheme and also due to the improved law and order situation n the country that this has happened as says Topline Securities’ Mohammad Tahir Saeed.
According to what he predicts these local auto sales would continue to grow 15 pc i.e. about 206,777 pieces over the next year since the taxi scheme shall be completed in February 2016. Although a decline may be seen in the sales of Honda Civic due to the anticipated arrival of its new model by June 2016. The delivery time for Corolla still remains between two to four months.
However, there has also been a 40 % YoY decrease in tractor sales due to the deferral in the subsidies of provincial tractor schemes, which came down to 14,727 pieces this year.
Both Punjab and Sindh had announced subsidies ranging from 25,000 to 29,000 in 2016’s budget but Punjab had to terminate the same because of the absence of ample funds.
Hence, Millat tractor sales went down from 14,965 to 9,178 tractors whereas Al-Ghazi tractors went down by 45% to reach 5,004 tractors YoY.
Toyota Fortuner also went down in sales from 432 to 332 fortuners and Sigma Defender sold just 164 units compared to 293 last year. Surprisingly, Suzuki Ravi and Toyota Hilux experienced an increase this year as their sales went up to 22,136 and 2,891 from 7,629 and 2,273 respectively.
On the other hand, an incline of 40% YoY was seen in the sales of buses and tractors which touched 3,246 during the same duration this year.