Car sales decline by 24 pc in FY13

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KARACHI: Pakistan’s locally manufactured car sales declined by 24 percent to 135,313 units in FY13 as compared to 179,139 units in FY12, according to the data released by Pakistan Automotive Manufacturers Association.

 

Muhammad Tahir Saeed, an analyst at Topline Research, said that used car imports, price hike, termination of Alto and Coure due to EURO-II compliance, completion of the Punjab government’s taxi scheme and CNG ban are the main reasons behind the decline. All these factors had an impact on the demand for cars as 57,540 units were sold in the first half of FY13. However, in the second half of FY13, almost 77,773 units were sold due to restrictions on import of used cars and improved auto financing.

 

On a monthly basis, total car sales improved by three percent to 13,674 units in June 2013 as compared to 13,302 units last month. Segment-wise analysis reveals that the sale of cars up to 1,300cc declined by seven percent to 5,171 units, while 1,300cc and above and LCV volumes increased by three percent and 38 percent to 6,406 units and 2,097 units, respectively, in June 2013.

 

In FY13, Pak Suzuki Motor Company (PSMC) saw its sales decline by 33 percent to 75,650 units against 112,157 units in the same period last year. However, on a monthly basis, PSMC sales remained stable at 6,990 units in June against 6,971 units in May 2013.

 

Similarly, Indus Motor Company (INDU) sales also went down by 31 percent to 37,776 units in FY13 as against 54,477 units in last fiscal. The decline in sales is mainly attributed to 29 percent softness in Corolla’s sales to 32,608 units in the year and the termination of Coure. INDU sold 71 Coure units in FY13 as against 3,857 units in FY12.

 

On a monthly basis, INDU sales improved by 13 percent to 4,243 units in June as compared to 3,768 units in May 2013. Individually, Corolla sales increased by nine percent on a month-on-month basis to 3,639 units, while Hilux’s volumes increased by 53 percent to 418 units in the month.




Courtesy:   The News


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