Car sales jump 13pc in 1HFY21 – Newspaper

KARACHI: Barring heavy commercial vehicles (HCVs), the entire auto sector gave a brisk performance during the first half of current fiscal year (1HFY21) on account of low interest rates and better farm incomes.

Buyers purchased more number of vehicles despite rising price trend in vehicles amid low cost of imports owing to a stronger rupee against the dollar from the last week of August 2020 — at Rs168 — compared to the current rate of Rs160 in the inter-bank market.

Car sales jumped by 13.4 per cent to 67,026 units followed by 134pc in jeeps, 32.4pc in light commercial vehicles (LCVs), 43pc in farm tractors and 19pc in two/three-wheelers.

According to the figures released by Pakistan Automotive Manufacturers (Pama), Honda Civic/City had left its rivals far behind by posting a sales jump of 73pc to 11,958. The second highest rise of 28pc was recorded in Suzuki Bolan with sales of 3,582 units. Suzuki WagonR hit the third spot with 21pc growth in sales to 5,478 units. Suzuki Cultus sales stood at 7,517 units, up by 14pc.

Among the losers, Suzuki Alto and Toyota Corolla sales plunged by 31pc and 28pc to 16,221 and 8,427 units in 1HFY21. Suzuki Swift sales fell to 998 from 1,136 units in IHFY20.

Toyota Yaris sales ended with 12,845 units in the first half of the current fiscal year.

Syed Fawad Bashir of Top Line Securities said demand for cars would grow stronger owing to low interest rates environment and pickup in economic activities.

In HCVs, a total of 1,650 trucks were sold in 1HFY21 versus 1,704 units in the same period last fiscal despite improvement in sales of Master, Isuzu and JAC to 425, 789 and 93 units from 198, 777 and 13, respectively.

In buses, Hino sales remained flat with 100 units as compared to 181 units while Isuzu sales also came down to 83 units from 99 units. Master sales rose to 114 units from 93 units. As a result, total bus sales of Pama members stood at 297 units as compared to 373 units.

Toyota Fortuner, Honda BR-V and Toyota Hilux sales climbed to 1,247, 1,708 and 3,620 units from 552, 1,227 and 1,881 units, up by 126pc, 39pc and 92pc, respectively.

Suzuki Ravi and D-Max sales plummeted to 4,140 and 141 units from 4,262 and 264 units. JAC sales increased to 308 units from 214 units, while sales of new comers like Hyundai Tucson and Hyundai Porter were recorded at 1,207 units and 557 units.

In farm machinery, Fiat and Massey Ferguson sold 6,198 and 15,538 units as compared to 5,881 and 9,228 units, showing a rise of 5pc and 68pc, respectively.

In the two-wheelers, sales of Honda bikes posted 20pc growth to 618,040 units while negative trend continued to prevail on Suzuki and Yamaha bikes, registering sales of 10,574 and 10,524 units, down by 3pc and 19pc, respectively.

Road Prince and United two-wheelers sales stood at 78,955 and 202,284 units, up by 24pc and 19pc as compared to 6MFY20.

In three-wheelers, United, Road Prince, Sazgar and Qingqi sales were 3,810, 5,417, 7,021 and 9,822 units as compared to 3,084, 4,372, 4,792 and 5,759 units, respectively.

Published in Dawn, January 12th, 2021