Summary Pakistan Automotive Manufacturers Association released auto data for the month of April 2018.
KARACHI (Dunya News) - The auto sales in the country recorded healthy growth of 40 percent in the month of April compared with April 2017 owing to low interest rate, introduction of different variant models in all the domestic manufacturers and higher demand from companies hiring private cars for the commuters.
Pakistan Automotive Manufacturers Association released auto data for the month of April 2018 with total car sales clocking-in at 25,567 units (highest ever monthly sales), depicting a growth of 40 percent on year and year basis and 14 percent compared with month of March 2018.
Once again car sales during the month kept the momentum uphill, led by Pak Suzuki Motor Company as company sold the entire inventory of prior months and posted higest ever sales of 14,500 during period under review.
In the 1300cc and above category, sales displayed a meagre drop of 3 percent on month and month basis while posting a growth of 18 percent compared to same period to 9,523 in April 2018.
In 1,000cc category, Wagon R and Cultus caught buyers attention and managed to post a massive growth of 106 percent on year on year basis and 66 percent on year on year basis, respectively. In the below 1,000cc category, Mehran sales registered an increase of 21 percent on year on year basis 4,648 units.
Tahir Abbas, research analyst at Arif Habib said that auto sector showed record growth on back of higher sales in rickshaw, 1000cc and below 1000cc segment amid massive demand from private taxi companies tagged with higher tractors sales.
Auto sales recorded growth of 23 percent to 218,302 units during July to April of current fiscal year compared with 176,933 units of the same period last year, the data said.
Tractors sales increased by 5 percent on month and month basis and 27 percent on year on year basis to 7,979 units, the data said. During the month, Al Ghazi Tractor and Millat sales witnessed a hike of 35 percent on year on year basis to 2491 units and 24 percent to 5,005 units, respectively.
The main factor in tractor sales growth was cut in sales tax to five percent in current fiscal year from 10 percent of the preceding fiscal year, Tahir Abbas said.
Meanwhile bikes and three wheelers during July 2017 to april 2018 recorded an increase of 20 percent to 953,556 units as compared with 795580 units of the same period last year.
(Details by Haris Zamir)
