LAHORE: The auto sales in the country witnessed 12 percent decline YoY in July 2016.
The data shows that, Pak Suzuki Motor (PSMC) sales falling by 19 percent YoY, owing to the absence of concessionary cab scheme that was available last year. The sales of Indus Motor Company (INDU) and Honda Atlas Cars (HCAR) experienced respective 2 percent YoY and 3 percent YoY decline ahead of the launch of Honda’s new Civic model.
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Ghandhara Nissan (GHNL, +50 percent YoY), Ghandhara Industries (GHNI, +304 percent YoY) and Hinopak Motors (HINO, +100 percent YoY) continued to post impressive growths in their units sales during the month. Experts believe 2017 can potentially be an exciting year for the sector, as whenever new model is launched, income levels will improve and record low interest rates can fuel demand for automobiles.
