KARACHI: Car sales edged up to 87,897 units in the first five months of this fiscal year, from 87,273 in same period last year.
On a monthly basis, however, there was a huge decrease in units sold in November, which fell to 15,334, from 21,342 units in October.
In 1,300cc and above models, Honda (Civic and City) sales rose to 19,795 in 5MFY19 from 17,157 units, followed by the increase in Toyota Corolla and Suzuki Swift sales to 23,771 and 2,154 units from 21,518 and 1,760 units, respectively. However, their month-on-month performance remained dismal in November.
In 1,000cc, Suzuki Cultus and WagonR sales climbed to 8,775 and 13,341 units in 5MFY19 from 8,002 and 11,383 units in same period last year. The 800cc and below 1,000cc vehicles suffered the most, as sales of Suzuki Mehran and Bolan during this period plunged to 13,598 and 6,463 versus 18,829 and 8,624 in 5MFY18.
Consumers did not show any reluctance towards buying 1,300cc and above cars despite rising petrol rates coupled with frequent price hike by the assemblers due to exchange rate parity and increase in interest rates.
Toyota Fortuner sales also dropped to 1,100 in 5MFY19 from 1,408, followed by a substantial decline in Honda BR-V sales to 2,116 from 4,410, Suzuki Ravi to 7,094 from 9,176 and Toyota Hilux to 2,436 from 2,632 units in 5MFY18.
Syed Danial Adil at Topline Securities said the volumetric fall in November was much anticipated due to deteriorating economy, law barring non-filers from purchasing cars, multiple price hikes in the past 12 months, high base effect of last month as well as seasonal slowdown.
In two-wheelers, 5MFY19 sales of Honda bikes went up to 463,714 from 454,15 in same period last year, while those of Suzuki and Yamaha rose to 9,814 and 10,425 compared to 8,528 and 8,611 units in 5MFY18.
United Auto Motorcycle sold 177,261 units in 5MFY19 versus 165,481 in same period last year.
Published in Dawn, December 12th, 2018