Car sales jump by over 57pc – Newspaper

KARACHI: The auto sector posted a robust performance in the first eight months of the current fiscal year (8MFY22) led by a 57.5 per cent jump in cars sales, 82.2pc in trucks, 51.5pc in jeeps/pickups and 6pc in farm tractors.

However, there was a drop of 12pc in the sales of buses during July-Feb 2021-22. Sales of motorcycles and rickshaws saw a slight fall of 3pc in 8MFY22.

According to the figures released by the Pakistan Automotive Manu­facturers Association (Pama), car sales surged to 149,813 units in 8MFY22 as compared to 95,139 units in the same period in last fiscal year. The month of February – with limited working days – also ended with high car sales of 18,054 units as compared to 16,985 units in January.

Combined sales of Honda City/Civic soared to 23,552, showing a jump 45pc from 16,213 units in the same period in FY21, the data shared by Pama showed.

Toyota Corolla and Toyota Yaris sales stood at 38,300 units in 8MFY22 as compared to 29,532 units in 8MFY21.

Suzuki Cultus and WagonR sales rose by 66pc and 95pc to 17,380 and 14,812 units in 8MFY22 versus 10,471 and 7,608 units in the same period in FY21.

Suzuki Bolan and Alto 660cc sales posted a growth of 51pc and 79pc to 8,267 and 43,427 units as compared to 5,481 and 23,293 units.

Sales of new entrants including Hyundai Elantra, Hyundai Sonata and BAC D20 stood at 1,929, 1,638 and 11 units, respectively, in 8MFY22.

Total truck sales in July-Feb FY22 rose to 3,993 units from 2,192 units in 8MFY21. Sales of buses fell flat to 393 units in 8MFY22 from 447 units in the same period in FY21.

Total jeeps and pickups sales swelled to 28,437 units in 8MFY22 from 18,766 units in 8MFY21. Toyota Fortuner and Toyota IMV vehicles sales surged to 11,199 units from 6,443 units. Hyundai Tucson, Honda BR-V, Suzuki Ravi, JAC, Isuzu D-MAX and Hyundai Porter sales stood at 2,230, 2,807, 10,025, 633, 294 and 1,161 units in 8MFY22 as compared to 2,146, 2,332, 6,458, 427, 176 and 784 units in 8MFY21.

Fiat tractor maker sold 13,228 units in 8MFY22 compared to 8,987 and 22,408 units a year ago.

Massey Ferguson, whose sales were not mentioned in Pama’s February sales data, managed to sell 20,270 units in 8MFY22 as compared to 22,408 units in the same period in FY21. Massey Ferguson had suspended its production from March 4 due to severe liquidity crunch.

Honda, Suzuki and Yamaha bike sales stood at 903,659, 24,515 and 16,113 units July-Feb 2021-22 as compared to 836,046, 14,954 and 14,526 units, up by 8pc, 64pc and 11pc in 8MFY21.

On the contrary, the 8MFY22 continued to be disappointing for Chinese bike assemblers. Sales of Ravi, Road Prince and United Auto Motorcycles sales plunged by 52pc, 32pc and 29pc to 2,358, 69,018 and 185,629 units in 8MFY22 from 4,929, 101,296 and 260,216 units in 8MFY21.

Qingqi, Sazgar, Road Prince and United Auto three-wheelers sales fell by 27pc, 7pc, 22pc and 58pc to 9,593, 9,892, 5,587 and 2,112 units from 13,075, 10,581, 101,296 and 5,019 units.

Sunny Kumar of Top Line Securities said macro recovery and single-digit interest rates played a main role in boosting auto sales in 8MFY22.

However, rising prices of four-wheelers on account of rupee depreciation against the dollar and soaring freight rates did not cause any negative impact on cars and Japanese-assembled bikes. However, low-priced Chinese motorcycles continue to suffer a fall in sales.

Sales are likely to remain upbeat till the end of FY22 as assemblers are seeing bookings for cars, jeeps and pickups.

Published in Dawn, March 11th, 2022