Auto sales surged by 22 percent and Bikes sales soar by 17.74 percent in 9 months – Research Snipers

Auto sales surged by 22 percent and Bikes sales soar by 17.74 percent in 9 months

pakistan cars

According to the report released by Pakistan Auto Manufacturers Association (PAMA), despite the increase in car prices due to money devaluation during the current fiscal year, Auto sales surged by 22 percent in the first 9 months of the fiscal year 2017-18.

Year on Year basis the record 22 percent increase in auto sales accounted for the sales of 192,735 units which includes Light Commercial Vehicles (LCVs) and four wheeler vehicles. While in a 1300cc and above category the overall increase of 3 percent was witnessed during the period under review, out of which Honda Civic had 14 percent of the growth in selling their cars. Honda Civic and Honda City cars were sold the most reaching 32,076 units according to the data revealed by AHL.

However, the 1000cc category was on fire, there was a huge 49 percent increase in this category, a total of 36,395 units were sold during the first nine months of the current fiscal year. Uber and Careem contributed to the massive demand for 1000cc cars along with infrastructure development in remote areas creating the need for travel and mounting auto financing.

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Below 1000cc category the demand remained on upward trend, Suzuki Mehran accounted for 34,802 units which were up by 24 percent YoY basis as the disposable incomes continue to grow, slinging the middle class.

Total sales in LCVs also increased by 40 percent YoY to 47,625 units, Hilux, Bolan, Toyota Fortuner, Ravi were all up with Hilux being on top with 28 percent. The month of March alone saw an increase of 9 percent YoY.

Despite the Automakers raised their prices, the sales are on the rise, Toyota and Suzuki first increased the prices of their cars, followed by Honda Atlas, Toyota increased prices of Hilux, Corolla and Fortuner variants.

Honda Bike Sales

During the first nine months of the current fiscal year, 2017-18 Honda Atlas enjoyed an increase of 17.745 percent in their bike sales. Honda has also raised bike prices couple of weeks ago which might affect the sales in the later months. Honda sold 838,395 bike units during the period from July to March as compared to 712,040 units sold in the previous period.