KARACHI: Amid a month-on-month improvement in October, the overall car sales registered a drop of 47 per cent to 39,700 units in 4MFY23 from 74,952 units due to rising prices, curbs on auto financing and parts imports and high-interest rates.

However, October car sales rose to 11,129 units from 9,213 units in September but it is far lower than 17,413 units sold in October 2021.

The recovery in car sales, as well as production in October, suggests that things are slightly improving as assemblers have been able to hand over vehicles after the release of auto parts from the port following the State Bank’s decision to enhance the quota for imports.

Sales of Honda Civic/City stood lower at 6,416 units in 4MFY23 as against 10,444 units in the same period last fiscal year while Toyota Corolla and Yaris sales fell substantially to 8,253 units from 19,214 units. Suzuki Cultus and WagonR sales came down to 2,952 and 2,181 units from 11,454 and 6,779 units. Suzuki Bolan and Alto sales remained flat at 1,469 and 13,464 versus 4,012 and 20,773 units in 4MFY22.

A 45pc sales drop was recorded in jeeps and pick-up in July-October FY23 to 8,234 from 14,969 units in the same period last fiscal year.

Total tractor sales also fell by 47pc to 9,258 from 17,386 units thus depicting a slowdown in agriculture activities.

The sales of trucks and buses stood at 1,109 and 210 units as compared to 2,011 and 184 units in 4MFY22.

The country’s two/three-wheelers sales plunged to 412,111 units in the first four months of the current fiscal year against 629,212 units in the corresponding period last year.

Published in Dawn, November 12th, 2022