Locally-made car sales down by 25pc

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KARACHI: Pakistanís locally manufactured car sales have declined by 25 percent to 96,326 units in the first nine months of current fiscal year as compared to 128,567 units in the same period last year. According to analysts, the large influx of used imported vehicles and termination of Non EURO-II compliant cars subdued the locally assembled car sales.

However, in March 2013, car sales improved to 13,344 units as compared to 12,628 units in February 2013.

Among individual companies, Pak Suzuki (PSMC) sales declined by 32 percent to 55,428 units in nine months against 81,360 units in the same period last year. However, on a monthly basis, PSMC sales remained stable at 7,100 units in March 2013 as compared to 7,000 units last month.

Similarly, Indus Motor (INDU) sales also went down by 34 percent to 25,829 units in nine months against 38,858 units in the same period last year. Decline in sales is mainly due to a 32 percent decline in Corolla sales to 22,346 units in the period and termination of Coure.

However, on a monthly basis, INDU sales increased by 11 percent to 3,979 units in March 2013 against 3,591 units in February 2013.

With the restriction on used imported CBUs going into effect, coupled with expectation of strong buying in the wake of upcoming elections, analysts foresee decent growth in local car sales in the coming months.

Courtesy: The News

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