KARACHI: From 10,536 units in January to 9,709 units in February, locally produced automobiles, light commercial vehicles, vans, and jeeps saw an 8% decline in sales.
Sales, however, represented a 57% increase over the 6,186 units sold in February 2023.
The general election vacations and February’s short workweek were the primary causes of the decline in sales.
But from July to February of FY24, sales fell by 41 percent to 59,699 units because of historically high borrowing rates, as well as other factors including high fuel prices, unaffordable prices, poor consumer purchasing power, etc.
Toyota Corolla, Yaris, and Corolla Cross sales plummeted to 9,181 units in 8MFY24 from 14,875 in July-February FY23, according to data from the Pakistan Automotive Manufacturers Association (PAMA), while Honda Civic and City sales decreased to 6,520 from 11,770.
Sales of the Hyundai Sonata, Suzuki Swift, and Hyundai Elantra fell to 3,445, 686, and 541 in 8MFY23 from 7,707, 1,698, and 948 in 8MFY23.
Sales of the Suzuki Cultus, WagonR, Bolan, and Alto 660cc models likewise stayed muted in 8MFY24, coming in at 2,501, 2,285, 1,497, and 19,761 units, respectively, as opposed to 5,758, 4,533, 3,083, and 28,202 during the same time a year earlier.
Sales of the Honda (BR-V and HR-V), Hyundai Tucson, Suzuki Ravi, Toyota Fortuner and Revo, and Honda (HR-V) fell to 2,815, 2,179, 1,221 and 1,943 units in 8MFY23 from 8,805, 3,572, 3,673 and 3,011 units.
Sales of Sazgar Haval and Hyundai Porter surged to 2,633 and 1,148 units in 8MFY24 from 1,138 and 848 units in the corresponding period of the previous year.
In the midst of reports of strong wheat and cotton crops, the combined sales of Massey Ferguson and Fiat tractors reached 30,591 units, up from 18,249 in 8MFY24. This indicates optimistic agriculture indicators.
Truck assembler sales decreased to 1,276 from 2,546 units, while bus sales decreased to 301 from 528 units in 8MFY23. Honda, Suzuki, and Yamaha sold 644,544, 10,316, and 5,218 two- and three-wheeler units in 8MFY24 as opposed to 697,864, 24,981, and 8,623 units during the same time the previous year.
