Car sales jump 35% in February 2021
Increase comes on back of growing economic activity, lower interest rate
PHOTO: REUTERS
KARACHI:
Despite being hit hard in the previous year, Pakistan’s auto sector bounced back as sales grew 35% to 16,436 units in February 2021, according to data released by the Pakistan Automotive Manufacturers Association (PAMA).
The surge in sales came on the back of improvement in economic activity, which drove demand for vehicles, and a lower policy rate, which led to an increase in auto financing.
“Improving economic conditions in rural areas because of higher prices for agricultural products, and the improving purchasing power parity also helped drive up sales,” said an AHL Research report.
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