Car Sales Witness 59% Increase in September
Sales of locally assembled cars witnessed an increase of 59% in the month of September according to the data released by Pakistan Automobile Manufacturers Association (PAMA). In totoal, 22,235 units were sold in September 2021 compared to 13,982 units in the same month of previous year. However adding the sales numbers of non PAMA members such as Kia, Changan, United & Regal etc, the figure exceeds well above 25,000 units.
The surge came on back of the reduction of taxes on 1,000cc & below cars as well as the ease in bank financing. Pak Suzuki was the biggest gainer of the month with 11,188 units rendering a 72% Y-o-Y increase over 6,491 units sold in the same month of previous year. Sales of Indus Motor Company (IMC) surged by 44% to 6,292 units in September against 4,365 units sold in the corresponding period of last year.
Honda Atlas witnessed 34% increase in sales with 3,635 units in September 2021, compared to 2,710 units sold in September last year. Hyundai-Nishat also enjoyed handsome sales with 205% increase and saw 964 units sold last month in contrast to just 316 units sold in September 2020. In addition, Kia and Changan which are not members of PAMA, have sold a little less than 2,000 units each according to some unofficial sources.
Although sales of local assembled cars are witnessing some rejoicing times, the latest restrictions on auto financing imposed by State Bank are expected to bring down the momentum of sales of cars in Pakistan.