Auto sales rise 43 percent in 2009/10
Wednesday, July 14, 2010
By our correspondent
KARACHI: Auto sales witnessed a 43 percent year-on-year growth for financial year 2009/10, the Pakistan Automotive Manufacturers Associations (PAMA) said.
The PAMA data shows that 140,307 units were sold during financial year 2009/10 (FY10) compared to 98,161 units during the past year.
Sales in June 2010 touched 16,416 units, which is 25 percent higher on month-on-month basis and 84 percent higher compared to 8,915 units sold in June 2009, it said.
One of the reasons behind this significant growth has been a low base of 98,161 units sold in FY09, which was 47 percent below the auto sales recorded in FY08, analysts said.
Another factor was early purchases as buyers made their purchase decisions during June to avert higher prices in July, they said
PAMA figures show that the Indus Motor Company (INDU) posted a phenomenal sales growth of 50,823 vehicles in FY10 compared with 34,146 sold in the past fiscal, registering a growth of 49 percent.
Sales of Toyota Corolla, the companys flagship, increased by 63 percent to 43,510 units sold in FY10. At the same time, sales of Cuore posted a decline of 9 percent, while sales of Hilux increased by 31 percent during the same period.
The Pak Suzuki Motor Company (PSMC) came in second to INDU with a 46 percent increase in sales to 73,993 units in FY10. In addition, its monthly sales of 8,693 units in June 2010 are the highest in the past two years.
PSMC also launched Swift during the year (January 2010) and managed to sell 2,353 units in six months.
In FY10 Suzuki Mehran and Alto led in their respective segments with an increase of 68 percent and 65 percent YOY in sales respectively. These cars continue to be preferred by the middle-income strata and largely depend on financing facilities offered in the country.
Segment-wise analysis suggests that the strongest growth was witnessed in the small-to-high segment cars (1300cc+) at 57 percent increase in sales to 61,008 units sold during FY10 compared to 38,755 units sold last year. Sales of small and economy cars grew 47 percent (23,696 units) and 41 percent YOY (39,253 units) respectively.
Toyota Corolla held the largest share of sales in the small-to-high segment at 71 percent followed by Honda City and Civic at 13 percent and 10 percent respectively.
Additionally, both Honda City and Civic posted a sales growth of 27 percent each to 8,212 and 5,908 units respectively. Suzuki Liana and Swift held small shares in the total segment sales.
Tractor sales also witnessed an increase of 18 percent to 71,512 units sold in FY10 compared with 60,351 units sold last year.
Millat Tractors led the pack with 33 percent growth in sales of its Massey Ferguson tractors (40,080 units) followed by Al Ghazi Tractors (AGTL) at 4 percent (31,432 units).
Auto sales rise 43 percent in 2009/10
