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Sunday, October 13, 2013 - KarachiLocally assembled vehicles including light commercial vehicles (LCVs), jeeps and pick ups sales went up by 7.5 percent to 32,841 units in the first quarter of current fiscal year 2013-14 (FY14) as against 30,541 units sold in the same period last year, Pakistan Automotive Manufacturers Association (PAMA) reported on Friday.
Ultimately, impact of age restriction on imported used cars was seen as locally assembled vehicles sales witnessed a significant increase of 15 percent in September 2013 to 11,166 units as compared to 9,721 units sold in the same month of last fiscal year.
However, on monthly basis auto sales remained subdued as it increased minimally by 1.0 percent when compared to a total of 11,096 units sold in the month of August 2013.
Industry experts foresaw another unexciting year ahead for the local auto assemblers as the unprecedented inflation coupled with recent price hikes by all three companies will likely suppress the auto sales during the current fiscal. They said that it is expected that the government will lift the age restriction ban on import of used cars in upcoming auto policy as the local auto market is shrinking due to insufficient supply of small segment cars, which can only be fulfilled by imported used cars in the absence of locally assembled affordable family cars.
According to the company-wise break-up, Pakistan Suzuki Motor Company (PSMC) registered 2.0 percent increase in the first quarter of FY 14 to 17,990 units as compared to the sales of 17,635 units in the corresponding period of the last fiscal year. Similarly, PSMC sales increased by 4.0 percent on yearly basis to 6,287 units in the month of September 2013 when compared to 6,033 units sales in the same month of FY13.
On monthly basis, PSMC sales increased by 5.0 percent to 6,287 units in September 2013 as compared to 5,982 units sold in August 2013. Indus Motor Company (IMC) remained on the sluggish trajectory during the first quarter of current fiscal as the company sold 8,419 units.
Locally assembled cars sales up
Ultimately, impact of age restriction on imported used cars was seen as locally assembled vehicles sales witnessed a significant increase of 15 percent in September 2013 to 11,166 units as compared to 9,721 units sold in the same month of last fiscal year.
However, on monthly basis auto sales remained subdued as it increased minimally by 1.0 percent when compared to a total of 11,096 units sold in the month of August 2013.
Industry experts foresaw another unexciting year ahead for the local auto assemblers as the unprecedented inflation coupled with recent price hikes by all three companies will likely suppress the auto sales during the current fiscal. They said that it is expected that the government will lift the age restriction ban on import of used cars in upcoming auto policy as the local auto market is shrinking due to insufficient supply of small segment cars, which can only be fulfilled by imported used cars in the absence of locally assembled affordable family cars.
According to the company-wise break-up, Pakistan Suzuki Motor Company (PSMC) registered 2.0 percent increase in the first quarter of FY 14 to 17,990 units as compared to the sales of 17,635 units in the corresponding period of the last fiscal year. Similarly, PSMC sales increased by 4.0 percent on yearly basis to 6,287 units in the month of September 2013 when compared to 6,033 units sales in the same month of FY13.
On monthly basis, PSMC sales increased by 5.0 percent to 6,287 units in September 2013 as compared to 5,982 units sold in August 2013. Indus Motor Company (IMC) remained on the sluggish trajectory during the first quarter of current fiscal as the company sold 8,419 units.
Locally assembled cars sales up
