KARACHI, Jan 28: Car sales rose by 30 per cent in the first half of 2002-2003. Assemblers predict 15-20 per cent rise in car sales by the end of current fiscal if the current buying euphoria for new models persists.

Consumers of various categories bought 24,980 cars of Japanese and Korean origins as compared to 19,239 units in the same period of 2001-2002.

Auto analysts attributed this growth to the car financing schemes of leasing and banking companies, the significant influx of capital into the country and the softening stance of the domestic monetary policy. Moreover, demand had also been spurred by the launch of new models by the domestic car manufacturers last year.

“If the buying tendency continues for the next six month, then the car sales will range between 46,000-50,000 in 2002-2003 as compared to 42,341 units in 2001-2002,” an analyst said.

Sales of Toyota Corolla went up by 57 per cent to 4,766 units from 3,039 units as a result of new model launched in March 2002. The company plans to double the production next month in order to meet the demand spurt and clear the old deliveries. Sales of Daihatsu Cuore took a U-turn in the last six months, going up by 101 per cent to 2,131 units from 1,062 units.

A total of 2,443 units of Honda Civic were sold in the last six months as compared to 2,284 units, up by seven per cent. Honda City sales stood at 1,800 units as compared to 1,633 units, showing a rise of 10 per cent. The company intends to launch new models of Civic and City this year.

Suzuki Mehran sales surged by 53 per cent to 6,230 units from 4,065 units while sales of Cultus rose by 49 per cent to 3,433 units from 2,309 units. Baleno sales recorded an increase of 75 per cent to 1,062 units from 604 units. Sales of Alto 1000cc increased by 28 per cent to 1,777 units from 1,388 units.

Market sources said that some selected newly assembled cars are still considered as a hot cake in the markets and dealers are continuing to make huge profits by charging premium on new models.

Sales of motorcycles (Honda, Suzuki, Yamaha and Sohrab) had also gone up by 38 per cent to 76,999 units from 55,663 units. Good crops specially of wheat and cotton last year followed by entry of leasing companies and banks in bike financing and leasing also played a major role in boosting the bike sales.

Assemblers see sales of bikes to reach over 150,000 in this fiscal from 120,113 units in 2001-2002 if positive economic indicators maintain for another six months.

Sales of trucks (Hino, Nissan and Mazda) jumped to 119 per cent to 788 units in July-December 2002 as compared to 360 units in 2001 while sales of light commercial vehicles (Suzuki Potohar, Bolan, Ravi), Toyota Hilux and Hyundai Shehzore) rose by 54 per cent to 5,593 units from 3,632 units. An analyst linked the increase in sales to higher government and defence sector orders followed by swift movement of exportable shipments.

Phenomenal increase of 248 per cent was seen in bus sales (Hino, Nissan and Mazda), rising to 1,523 units from 437 units as a result of heavy buying by transporters for inter-city routes.

Sales of Al Ghazi (Fiat) and Millat (MF) tractors rose by 11 per cent to 10,371 units from 9,303 units.