Car sales dropped by 39.4% year-on-year to 10,345 units in February 2020, as weakening buying power of consumers continued to hurt the local automobile sector.
According to the data from Pakistan Automotive Manufacturers Association (PAMA), car sales dropped 43.4% to 79,537 units in the first 8 months of the current fiscal year, compared to 140,462 units sold in the corresponding period a year earlier. However, on a month-on-month basis, car sales increased from 10,095 units in January 2020 to 10,345 units in February 2020, witnessing a mild 2.47% improvement.
In February 2020, sales of 1300cc and above cars fell by 30% year-on-year to 5,769 units in compared to 8,239 units sold during the same month a year earlier. Sales of these cars dropped 56% to 31,033 units in July-February period, compared to 70,232 units in the corresponding period a year earlier.
Sales of Toyota Corolla decreased 25% to 3,715 units as against 4,945 units a year earlier, while sale of Honda Civic and City was down 36.6% to 1,868 cars from 2,950 units. Under 1000cc category, Suzuki Cultus and Suzuki WagonR (combined) witnessed sales drop of 47.6% to 2,234 units in February 2020 as against 4,262 units in February 2019. Suzuki Swift’s sales declined 46% to just 186 units from 344 units a year before.
Sale of 4x4s & SUVs decreased 46.8% in the first 8 months to 2,745 units from 5,160 units during the corresponding period last year. Sales of buses and trucks slid 41% in the July-February period as their sales dropped to 402 units from 563 units.
Tractor sales decreased 35.7% to 20,588 units in the eight months of FY20. That was compared to 32,013 units in the corresponding period last year. Sales of motor bikes fell 9.7% to 1.081 million units in the July-February period. That was compared to 1.197 million in the corresponding period a year earlier.