ISLAMABAD: The local vehicle sales in the country have increased to 184,099 units during first 10 months of this year against 142,814 units in same period last year, registering a 29 percent growth.
The improved law and order situation, low interest rates, Punjab government’s taxi scheme and other economic factors are behind this growth.
Market statistics have showed on Sunday that Indus Motors sold 52,987 units during the year – a 1.15 per cent Year on Year (YoY) increase. However, sales fell 6 per cent to 5,483 in April 2016. The market leader Suzuki saw a 41 per cent YoY increase with sales units of 109,628 in 2016 and thanks to Punjab’s taxi scheme. However, due to less working days, sales in April have declined 18 per cent. At 8,965 units, Month-to-Month (MoM) basis sales volume in April dropped by 1 per cent.
An overall 5 per cent decline in sales was recorded in April 2016 as compared to March 2016. With sales volume of 21,292 in the year, Honda cars saw a 1.13 per cent increase in sales during current year. With sales of 2,571 units in April – a 16 per cent increase in YoY levels, it is pertinent to note that Honda observed no change on MoM basis. In the anticipation of upcoming Honda Civic model, the sales of current Civic models are further expected to slow down in coming months.
Overall, car sales in Pakistan have registered healthy growth over the last year.
