KARACHI: The auto sector in the first seven months of the current fiscal year (7MFY21) registered brisk growth, posting an increase of 18 per cent in car sales, 137pc in jeeps, 32pc in pickups, 12pc in Fiat and 84pc in Massey Ferguson tractors and 18pc in two- or three-wheelers. The only exception were heavy vehicles which posted negative sales.
According to data released by the Pakistan Automotive Manufacturers Association (PAMA), total car sales stood at 81,569 units in 7MFY21 versus 69,189 units in the same period last fiscal. Car sales in Jan 2021 sales increased to 14,543 units as compared to 10,095 units in Jan 2020.
Honda Civic and City emerged as the best selling vehicles, rising by 59pc to 14,021 units and causing an overall 63pc growth in 1,300cc and above segment sales amid 34pc drop in Toyota Corolla sales to 9,952 units. Suzuki Swift sales crawled up by six per cent to 1,362 units during the 7MFY21. Yaris sales closed at 15,837 units.
With a cumulative jump of 18pc in 1,000cc segment, Suzuki WagonR and Suzuki Cultus sales grew by 8pc and 33pc to 8,987 and 6,794 units.
The below 1,000cc segment marked a decline of 19pc due to 21pc fall in Suzuki Alto 660cc sales to 20,048 units while Suzuki Bolan sales surged by 36pc to 4,568 units.
According to Syed Fawad Bashir of Top Line Securities, Lucky Motor Corporation, the maker of KIA vehicles, managed to sell 2,500 units in Jan 2021 alone. Lucky auto sales clocked in at Rs44bn in 1HFY21 (36pc of total revenues) as compared to Rs12bn in 1HFY20. A new entrant, Hyundai Nishat, sold 1,600 units from Aug 2020 till Jan 2021.
He said car demand would go stronger owing to low interest rates and pickup in economic activities.
Taha Madani of BMA Capital said the auto sector is expected to remain upbeat in second half of the current fiscal year with total sales of cars, light commercial vehicles (LCVs) and sports utility vehicles (SUVs) reaching as high as 166,000 units, up 49pc year-on-year.
Total truck sales dropped by 7.5pc to 1,940 units in which Hino suffered a fall of 49pc to 413 units followed by 7pc drop in Isuzu sales to 912 units. Master and JAC truck sales soared to 488 and 127 units from 278 and 20 units in 7FY20.
Out of 12.7pc drop in overall bus sales to 370 units, Hino sales remained 41pc less with 113 units in 7MFY21 while Isuzu sales also remained depressed by 22pc with 85 units. Master bus sales swelled by 40pc to 172 units.
In LCVs, vans and jeeps, a total of 1,666 and 2,095 units of Toyota Fortuner and Honda BR-V were sold versus 702 and 1,559 units, up by 137pc and 34pc respectively. Suzuki Ravi, Toyota Hilux and JAC sales were 5,190, 4,136 and 363 units in 7MFY21, up by three per cent, 79pc and 29pc respectively. D-Max sales plunged by 44pc to 171 units. New comer Hyundai Porter, which started its production in December 2019, sold 679 units during July-Jan 2020-21 as compared to 70 units in same period 2019-20.
Overall agriculture indicators appeared to have shown improvement in view of rising tractor sales of Fiat and Massey Ferguson to 7,545 and 19,400 units, up by 12pc and 84pc compared to 7MFY20.
Honda sold 20pc more bikes to 732,041 units while Suzuki sales showed no growth with 12,682 units as compared to 12,741 units. Yamaha sales fell by 15pc to 12,654 units.
United Auto Motorcycle and Road Prince bike sales stood at 230,370 and 89,855 units, showing a sales growth of 18pc and 21pc while Ravi bike sales plummeted by 54pc to 4,728 units.
In three wheelers category, Qingqi, Sazgar, Road Prince and United sales stood at 11,553, 9,028, 6,030 and 4,465 units in 7MFY21, registering a rise of 48pc, 23pc, 10pc and 20pc from the same period last fiscal.
Published in Dawn, February 12th, 2021