KARACHI: Car sales posted 53 per cent growth to 89,824 units during the first half of this fiscal year from 58,727 units in the same period last year.

According to Pakistan Automotive Manufacturers Association (PAMA) data released on Monday, the production of locally-assembled cars rose by 48pc to 92,514 units in July-Dec 2015-16 as compared to 62,490 units in corresponding period last year.

The sales of Suzuki Bolan jumped 192pc to 19,516 units thanks to Punjab Rozgar Scheme compared with 6,687 units sold in the same period last year.

Suzuki WagonR registered 138pc increase to 4,065 units as compared to 1,705 units. Sales of Suzuki Mehran jumped by 42pc to 18,017 units as compared to 12,697 units. Suzuki Cultus sales rose 20pc to 7,958 units from 6,607 units in the corresponding period last year.

In 1,300cc and above category Toyota Corolla remained in high demand with sales rising by 33.5pc to 27,681 units as against 20,729 units sold in July-Dec 2014-15.

Combined sales of Honda Civic and City increased by 24pc to 10,616 units as compared to 8,578 units in same period last year. A total of 1,947 units of Suzuki Swift were sold as against 1,661 units.

However, December 2015 did not prove a good month as overall sales plunged to 14,019 units as compared to 15,724 units in December 2014 as Indus Motor Company (IMC) and Honda Atlas raised prices by one to 1.5pc during the month. In the current month Pak Suzuki Motor Company Ltd also increased prices by 1pc.

Mohammad Tahir Saeed at Topline Securities attributed the rising car sales to mainly taxi scheme and cheaper auto financing owing to 42-year low interest rates.

Tractors: Tractor sales dipped 41pc to 12,375 units during the first half of 2015-16 due to delay in launching of schemes by Punjab and Sindh for offering 25,000 and 29,000 tractors at subsidised rates, respectively.

Farmers are still waiting for the execution of announced schemes despite reports that the Punjab government had shelved its tractor scheme. Millat Tractors sold 7,916 units in 1HFY16 compared to 12,811 units in the same period last year.

Al Ghazi Tractors witnessed a decline of 48pc in its sales to 4,020 units year-on-year.

LCVs: Sales of Suzuki Ravi, another beneficiary of Punjab Rozgar Scheme, rose to 18,952 units in July-Dec 2015-16 as compared to 6,325 units in the same period last year.

Toyota Fortuner sales dropped 22pc to 282 units from 361 units followed by 33pc fall in Sigma Defender sales to 140 units from 210 units. Toyota Hilux sales rose by 40pc to 2,518 units from 1,793 units during the period under review.

Published in Dawn, January 12th, 2016