KARACHI: Sales of local car assemblers (including light commercial vehicles (LCVs), vans and jeeps) increased by 57% year on year (YoY) during the first seven months (Jul-Jan) of fiscal year 2015-16 (7MFY15-16), according to data released by the Pakistan Automotive Manufacturers Association (PAMA).
During 7MFY16, local vehicle sales stood at 133,437 units compared to 85,135 units in the same period of last year.
Amongst individual companies, Pak Suzuki sales increased by 90% year on year to 83,188 units in 7MFY16 primarily due to Punjab taxi scheme. Volumes increased 59% year on year (+3% month on month) in January 2016 primarily due to the taxi scheme. Contrary to historical trend of high growth in the month of January 2016, PSMC volumetric growth in January 2016 remained 3% due to high base of December 2015 due to taxi scheme.
Indus Motor sold 36,448 units in 7MFY15-16 compared to 29,298 units in 7MFY14-15.
In Jan 2016, Indus sales stood at 5,967 units, down 7% year on year due to high base of last January because new model of Corolla was launched last year. On month on month basis, sales increased by 26% due to new car registration phenomenon.
It is pertinent to mention here that delivery time for new Corolla model is still hovering in the range of 2-4 months depending on the variant. Honda Atlas Cars sold 13,625 units in 7MFY15-16 compared to 11,799 units in the same period last year. In Jan 2016, Honda Cars sold 3,015 units, down 6% year on year (up 193% month on month). Topline report said that Honda City remained the major contributor in this growth.
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