The sales of local automobiles suffered the slight decline in first 8 months of current fiscal year 2017. The sale of the autos stood at 138,103 units this year in the first 8 months of the current fiscal year ranging from July 2016 to February 2017, when you compare it with 149,311 automobiles sold last fiscal year in the same period. Pakistan Automotive Manufacturers Association (PAMA) has shared this information.
Topline Securities is the analyst firm and it stated that the sales of car are expected to reach to 270,000 in the current fiscal year and it also includes about 60,000 imported cars.
The sales during the month of February was done as per expectations and the sales declined by 6% on month on month basis during February 2017 and this is the average decline, which is recorded in last 5 years and it was at 8% average month on month. There is the reason for this decline, which was due to the less number of days in February, which is compared with January.
Pak Suzuki Going Strong
Pak Suzuki Motor Company has maintained its sales volume strongly with Wagon R and Bolan, which has recorded the strong sales in the first eight months of current fiscal year. Wagon-R was sold strongly despite of the increase in the prices of the automobiles with 1638 units sold. Indus Motors has suffered losses in the first eight months of this current fiscal year due to some operational issues. The sales of Toyota Fortuner went up to 237 units, which were sold in February 2017 with the increase of 6.6 times compared with February last year.
Honda Not Far Behind
The sales of Honda car was increased with the recent launch of bookings with the company for Honda BR-V SUV with 2000 cars, which are booked already. Tractor sales saw the significant increase in the sales with an 80% increase in the first eight months of current fiscal year 2017, when you compare it with the same period in fiscal year 2016. The sales of the cars are expected to enhance due to falling prices and better crop yield overall.