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Local auto sales remain sluggish in Jul-Nov '12-13

13 December, 2012

KARACHI: Pakistan locally manufactured car sales (including LCVs, Vans and Jeeps) during July-November 2012-13 have declined by 31 percent to 49,092 units compared to 70,727 units in same period last year.

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KARACHI: Pakistan locally manufactured car sales (including LCVs, Vans and Jeeps) during July-November 2012-13 have declined by 31 percent to 49,092 units compared to 70,727 units in same period last year.

During November 2012 the local car sales stood at 9,154 units, 3 percent down as compared to 9,397 units last month while are 23 percent down as compared to 11,926 in the same month last year.

Sluggish volumes are primarily on account of rising inventory levels of used imported Complete Built Units (CBU), termination of non EURO-II compliant cars (Alto and Coure) and absence of taxi scheme.

Amongst individual companies, Pak Suzuki (PSMC) has sold 28,337 units during July-Nov 2012-13, down 34 percent as compared to 42,738 units last year. However on monthly basis PSMC sales increased to 5,584 units, up 10 percent as compared to 5,094 units last month on back of increased sales of Mehran and Cultus brands.

Indus motors (INDU) July-Nov 2012-13 sales have declined by 37 percent to 13,128 units as compared to 20,932 units in July-Nov 2012. Decline in sales in on account of 38 percent YoY decline in Corolla sales to 11,047 units in July-Nov 2012-13.

On monthly basis, INDU sales declined to 2,125 units, 21 percent down as compared to 2,704 units in October 2012 and 32 percent down as compared to 3,126 units in November 2011.

However in the period of sluggish sales, Honda Atlas Cars (HCAR) sales have jumped to 7,429 units during first five month of the current fiscal year, 9 percent up as compared to 6,790 units in 5M FY12. Increase in sales in primarily attributable to 20 percent YoY rise in Civic sales and revival of production after Thailand flooding last year.

Support to volumes can emerge after the recent decision by Economic Coordination Committee to restrict used cars imports by restricting age limit from previous 5 years to 3 years.

End.


 
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