KARACHI: Car assemblers recorded 60.59 per cent increase in sales to 44,372 units during the first quarter (July-Sept) of 2015-16 from 27,630 units in the same period last year, thanks to 58pc rise in Toyota Corolla sales to 13,512 from 8,546 units.

Another big support came from 86pc jump in Suzuki Wagon R sales to 1,797 from 967 units, followed by 36pc growth in Suzuki Mehran to 8,482 from 6,241 units.

Suzuki Cultus and Swift sales rose to 3,520 and 978 units from 2,981 and 950 units, respectively.

Pakistan Automotive Manufacturers Association (PAMA), in a surprise move, has combined the production and sales figure of Honda Civic and City. Sales of both the cars posted a jump of 26.5pc to 6,184 from 4,887 units in July-Sept 2014-15, on the back of rising Honda City sales.

TRUCKS AND BUSES: All the four truck assemblers enjoyed 25pc sales increase in July-Sept 2015-16 to 1,039 from 830 units in the same period last year. Hino took the lead with sales of 441 as compared to 269 units.

Nissan, Master and Isuzu sales climbed to 168, 168 and 262 units from 159, 178 and 224 units respectively.

Hino bus sales rose to 170 from 102 units, while Isuzu sold 21 buses as compared to 17 units in July-Sept 2014-15.

TRACTORS: Sales fell 28pc to 6,745 from 9,363 units in July-Sept 2014-15.

Fiat and Massey Ferguson sold 2,131 and 4,392 units from 3,184 and 6,086 units. However, sales of Orient IMT tractors increased to 222 from 93 units.

LCVs: Sales of Suzuki Bolan grew sharply to 9,896 from 3,020 units, thanks to the Punjab Taxi Scheme.

Toyota Hilux and Fortuner sales fell to 1,097 and 158 units from 1,115 and 201 units, respectively. While Sigma Defender sales stood at 84 from 85 units.

Mohammad Tahir Saeed of Topline Securities said that improvement in economy and the Punjab Taxi Scheme provided huge support to the auto sector.

He attributed the decline in tractor sales to delay in the launch of provincial tractor subsidy schemes.

Punjab and Sindh governments in budget 2015-16 announced a subsidy of 25,000/29,000 tractors. In Sept 2015, some encouragement was seen as tractor sales stood at 3,096 units, up 54pc month-on-month.

He said car financing was also picking up gradually — currently at 30pc compared to 5pc a few years back.

“Car sales (excluding imported) grew at a five-year (FY11-15) CAGR of 5.3pc to 179,953 units, while volumes surged by 31pc in FY15, on the back of new Toyota Corolla model, Punjab Taxi Scheme and increase in car financing.”

He forecast local car sales to grow by 13pc in FY16 to reach at 203,653 units.

“The second quarter 2015-16 may also bring more impressive sales keeping in view higher imports of completely- and semi-knocked down kits (CKD/SKDs) by the manufacturers.”

Heavy vehicle assemblers imported $44 million of CKD/SKD in July-August 2015-16 as compared to $19m, while car assemblers bought $84.4m of imported kits as compared to $64.5m in the same period last year, Pakistan Bureau of Statistics (PBS) data showed.

Published in Dawn, October 13th , 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play