Pakistan’s Automobile Sector Witnessing a Hike of 11% YoY
The automobile industry’s sale volume has surged by 11%, making the sales volume to be 13,380 units in Dec’20.
The automobile sector of Pakistan witnessed a YoY hike of 11% in its sales when a total number of 13,380 units were sold in Dec’20
The total sales of automobiles for the first 6 months of FY21 reached 77,661 units, showing a hike of 16% compared to the same period of 2019.
According to a report, Honda Cars is expected to see a growth of 78%, followed by Indus Motor company with a growth of 72%, while Pak Suzuki Motors is likely to see a dip of 13% in its overall sales for the month.
It is further added that compared to the previous month, PSMC may see a hike in sales by 12%, whereas HCAR and INDU might witness a dip of 20% and 19%, respectively.
It is informed that most of the growth in sales relates to Passenger Cars and LCVs.
Adding further, it is also reported that companies like Millat Tractors and Al-Ghazi Tractors are likely to experience a growth of 1.89x and 1.46x YoY, respectively.
This hike in tractors’ sales would take their cumulative sales for 1HFY21 to 15,463 units and 6,198 units, i.e. higher by nearly 68% and 5%, respectively.
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