Sales of locally assembled cars has witnessed buoyant performance during April 2018 as compared to corresponding month of last year, Pakistan Automotive Manufacturers Association (PAMA) said on Friday. The auto sales recorded 39 percent to 25,567 units on Year on Year (YoY) basis.
According to Topline research, the stellar performance in car segment was driven by record sales of Pak Suzuki Motors Company (PSMC) with total sales volume of 14,781 units, depicting 61 percent growth on YoY basis. The sales of PSMC Ravi and Wagon R doubled during the month while, other brands like Bolan, Swift and Cultus have shown impressive growth of 89 per cent, 77 per cent and 58 per cent YoY, respectively.
Similarly, Indus Motor Company (IMC) has recorded its second highest sales of 6,183 units, up by 10 per cent YoY largely driven by fortuner with 147 percent YoY growth, while Hilux and corolla sales surged by 6 per cent and 4 per cent, respectively. The sales of Honda cars also jumped by 31 per cent YoY to 4,603 units, where robust growth came from City due to its rising popularity in upper middle class. Cumulatively, in 10 months of FY18, the car sales depicted 23 per cent growth rate, where both PSMC and HCAR crossed their last year's sales.
Tractor sales still managed its positive trajectory and portrayed 27 per cent YoY growth owing to continuation of lower sales tax of 5 per cent on tractors.
In Trucks and Buses segment, Master outperformed industry with 82 per cent growth while HINO and ISUZU showed 2 per cent and 25 per cent growth respectively on back of higher construction activities driven by China-Pak Economic Corridor (CPEC), Public Sector Development Program (PSDP) and Private sector growth. Overall bike and three wheeler segment went up by 27 per cent YoY.