KARACHI: Country’s cars, jeeps, pick-ups and vans sales recovered by 19 per cent to 5,290 units month-on-month (MoM) in May while it plunged by 77pc year-on-year (YoY).
During 11MFY23, sales stood at 120,158 units, down by 52pc YoY primarily attributable to the non-availability of CKDs, escalating car prices, expensive auto financing, and low purchasing power of consumers.
According to Topline Securities, Pak Suzuki Motor Company Ltd (PSMCL) sales grew by 101pc MoM to 2,958 units in May due to parts availability while 11MFY23 sales posted a drop of 54pc to 62,354 units.
Honda Atlas Car Ltd (HCAL) recorded the highest decline of 58pc MoM to 87 units in May due to parts shortage, while sales in July-May FY23 fell by 53pc to 16,572 units.
Hyundai Nishat sales were also down 31pc MoM to 503 units in May while 11MFY23 sales plunged by 19pc to 9,130 units.
Indus Motors Company (IMC) registered a decline of 12pc MoM to 1,718 units in May while 11MFY23 sales shrank by 57pc to 29,258 units.
Total tractor sales (Millat and Fiat) dipped 46pc to 27,952 units in 11MFY23 despite a 9pc recovery in May to 3,508 units from 3,211 in April.
Sales of bike fell 34pc to 1.085m units, while truck and bus by 38pc to 3,687 units during 11MFY23.
Published in Dawn, June 13th, 2023
