Despite the upward rise in prices, the concurrent increase in the sale of trucks from 1,663 units in July 2008-January 2009 to 1,914 units in July 2009-January 2010 gives a somewhat positive impression of some economic recovery in the country, Irfan Shaikh, Director Sales & Marketing, Hinopak Motors Limited stated.
He explained that Hinopak's trucks sale increased by 60 percent (253 units) in January 2010 as compared to 158 units in December 2009. He, however, said political instability also affected growth of the industry. He said that the month of January 2010 had proved to be promising in terms of sales of trucks and buses.
The reason being that the customers were earlier hesitant to go ahead with the purchase and investment in commercial vehicles in the months of November and December 2009, owing to the volatile law & order situation coupled with political instability. But now these customers gained confidence, which has brought the sales forward in the month of January.
Another reason for the extraordinary boost in sales of Hino FM1J 6x4 truck and Prime Mover model is the commencement of coal transport operations from Gawadar Port for which the Hino FM1J is perfectly suited. Commenting on the future outlook, he said that according to the shifting conditions in the country and overall trends, the remaining year would show a declining trend in sales.
The prices of locally produced trucks and buses have risen at an increasing rate between the period of December 2007-2009 owing to the appreciation of the Japanese yen against the rupee, which directly increased the cost of imported components and parts. The prices have risen by 55 to 60 percent for different models.
This is evident in the prices of different vehicles eg a Hinopak Motors truck chassis costs Rs 5.6 million at present as compared to Rs 3.65 million in 2007. Similarly, Dutro, a small truck chassis also produced by Hinopak is priced at Rs 2 million compared to Rs 1,175,000 in 2007. A bus comprising of 63 seats sold for Rs 2.8 million in 2007 but now has an asking price of Rs 4.3 million.
In the bus segment, Hinopak sold 51 buses which is on the high side as compared to previous months figures owing to the same above mentioned reasons. Irfan added that in the bus segment, the company is expecting the same trend to continue in the months ahead. Furthermore, Panama, Costa Rica, Venezuela and Mozambique have also shown interest in Hinopak's buses, he added.-PR