KARACHI: Sales of locally assembled cars, light commercial vehicles, vans and jeeps fell by eight per cent to 9,709 units in February from 10,536 in January.
However, sales were higher by 57pc compared to 6,186 units sold in February 2023.
The low number of working days during February, coupled with the general election holidays, were the main reasons for a drop in sales.
However, the sales plunged by 41pc to 59,699 units in July-February FY24 due to unprecedented interest rates, followed by unaffordable prices, rising petroleum rates, the low purchasing power of consumers, etc.
As per data of the Pakistan Automotive Manufacturers Association (PAMA), Toyota Corolla, Yaris and Corolla Cross sales tumbled to 9,181 units in 8MFY24 from 14,875 in July-February FY23, while Honda Civic and City sales fell to 6,520 from 11,770.
Suzuki Swift, Hyundai Elantra and Hyundai Sonata sales shrank to 3,445, 686 and 541 from 7,707, 1,698 and 948 in 8MFY23.
Suzuki Cultus, WagonR, Bolan and Alto 660cc sales also remained subdued at 2,501, 2,285, 1,497 and 19,761 units in 8MFY24 as compared to 5,758, 4,533, 3,083 and 28,202 in the same period last fiscal year.
Sales of Toyota Fortuner and Revo, Hyundai Tucson, Honda (BR-V and HR-V) and Suzuki Ravi dropped to 2,815, 2,179, 1,221 and 1,943 units from 8,805, 3,572, 3,673 and 3,011 units in 8MFY23.
Sazgar Haval and Hyundai Porter sales swelled to 2,633 and 1,148 units in 8MFY24 from 1,138 and 848 in the same period last year.
Combined sales of Massey Ferguson and Fiat tractors reached 30,591 units from 18,249 in 8MFY24, thus signaling positive agriculture indicators amid reports of good wheat and cotton crops.
Sales of truck assemblers came down to 1,276 from 2,546 units, while bus sales also stood lower at 301 units from 528 in 8MFY23. In two- and three-wheelers, Honda, Suzuki and Yamaha sold 644,544, 10,316 and 5,218 units in 8MFY24 as compared to 697,864, 24,981 and 8,623 units in the same period last year.
Published in Dawn, March 13th, 2024
