Car Sale Soars high in the month of January in Pakistan
Total car sale was 81,569 units in 7MFY21, compared to 69,189 units in the same period last fiscal year, as per the figures released by the Pakistan Automobile Manufacturers Association (PAMA). Car sales rose to 14,543 units in Jan 2021, compared to 10,095 units in Jan 2020.
Car sale with 1300cc and higher powered engines rose by 27% to 6,944 units compared to 5,467 units sold during the same month in the previous year. This rise can be due to Toyota Yaris sales, which reached 2,992 units.
Due to a 21pc reduction in Suzuki Alto 660cc sales to 20,048 units, the below 1,000cc category marked a decrease of 19pc, while Suzuki Bolan sales rose by 36pc to 4,568 units.
Sales in the 800 CC segment rose 104% to 4,813 units in January, compared to 2,360 units in the same time in 2020.
Sales of Indus Motor’s iconic Toyota Corolla, however, decreased by 56 percent, while Honda Civic and City’s sales increased by 10 percent.
PAMA has announced rapid growth in the automotive sector in the first seven months of the fiscal year (7MFY21), posting an 18% rise in car sales, including 137% in jeeps, 32% in trucks, 12% in Fiat, 84% in Massey Ferguson tractors and 18% in two or three wheelers.
In January 2021 alone, Lucky Motor Company, the manufacturer of KIA cars, managed to sell 2,500 units, according to Syed Fawad Bashir of Top Line Securities. As compared to Rs12bn in 1HFY20, lucky car sales clocked in at Rs44bn in 1HFY21 (36pc of overall revenues). From Aug 2020 through Jan 2021, a new entrant, Hyundai Nishat, sold 1,600 units.