Car sales slump 17 percent in April
- After several months of increase in auto sales, April was the first month to show a downward trend, as the auto industry recorded 17,233 vehicle sales in the last month.
Pakistan Automotive Manufacturers Association (PAMA) has released car sales data for April 2021 indicating a slow drive for the market. The data shows car sales experiencing a Month-on-Month (MoM) decrease of 17.2 percent compared to March 2021.
After several months of increase in auto sales, April was the first month to show a downward trend, as the auto industry recorded 17,233 vehicle sales in the last month.
Not everyone was affected equally by this sudden slump. According to the data, Toyota Indus Motor Company (IMC) sold 5,355 vehicles in April 2021, recording an MoM sales decrease of 20 percent.
Meanwhile, Honda Atlas Cars recorded an MoM sales decrease of 27 percent, with 2,287 vehicle sales last month. These two auto-companies took the biggest hit with respect to MoM sales.
Whereas Pak-Suzuki Motor Company (PSMC) only recorded a sales decrease of 15 percent. KIA Lucky Motors followed close behind recording a MoM decrease in sales by 16 percent, having sold between 1800 and 2000 units during April. Meanwhile, Hyundai Nishat sold 896 units in total last month, recording a MoM sales increase of 23 percent.
The stats remained limited to MoM sales with no mention of YoY. The reason behind this is due to the fact April of 2020 was lost to a worldwide lockdown. No automakers sold any units in the market during that time.
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