Car sales jump 44pc to 14,543 units in Jan
Business
February 12, 2021
KARACHI: Sales of passenger cars jumped 44.06 percent to 14,543 units in January compared to 10,095 units sold in the same period last year owing to an increase in leasing in a low interest rate environment, latest numbers showed on Thursday.
Sales of jeeps, tractors, pickups, three-wheelers, and motorcycles also increased in the period under review, according to data issued by Pakistan Automotive Makers Association (PAMA).
One analyst said that sale of cars were set to increase in coming days as low markup rates would attract the buyers willing to purchase cars on lease.
Increase comes on back of higher demand during the month
KARACHI:
Car sales increased by 46% in January 2021 to 17,515 units in comparison with the same period of last year, according to data released by the Pakistan Automotive Manufacturers Association (Pama).
Car sales grew on the back of higher demand during January, said auto analyst Nabeel Dochki. The highest uptick in sales was enjoyed by Pak Suzuki Motor Company (PSMC), which was likely due to a change in production towards double shifts.
Moreover, a significant change in customer preference was also witnessed as the proportion of Hilux and SUVs increased from a historic average of 5% to 19% in the sales mix, driven by higher demand for Sportage and Tucson.
Auto sales showed a brisk upward trend in 4MFY21 with 8.1 per cent rise in sales of cars, 93pc in jeeps, 39pc in LCVs, 19pc in two- and three-wheelers and 24pc in farm tractors. AFP/File
KARACHI: Auto sales showed a brisk upward trend in 4MFY21 with 8.1 per cent rise in sales of cars, 93pc in jeeps, 39pc in LCVs, 19pc in two- and three-wheelers and 24pc in farm tractors, data released by the Pakistan Automotive Manufacturers Association (Pama) showed on Wednesday.
Atlas Honda Ltd assembled and sold all-time high units of 116,024 and 116,000 respectively in October, breaking its own record of 115,972 assembled and 115,161 sold units in April 2018.
Car sales jump 40pc in November
Business
December 12, 2020
KARACHI: Car sales in November rose 40 percent from the same month a year earlier, industry data showed on Friday, as lower interest rates and pickup in the economic activity helped the automobile sector recover losses.
Sales in November jumped to 11,914 units, showed data from the Pakistan Automotive Manufacturers Association (PAMA). Car sales stood at 8,524 units during the corresponding period last year. However, the sales remained lower, compared with 11,997 units sold in October 2020.
November data showed jeeps, tractors, three-wheelers and motorcycles have also shown an increase in their sales.
Syed Fawad Basir, an analyst at Topline Securities, said the market expects the car demand to grow further, owing to low interest rates and pickup in the economic activity amid pandemic.