KARACHI: Sales of locally assembled cars rose 30 per cent year-on-year to 137,206 units during the nine months to March amid favourable economic conditions and rise in auto financing.
Sales of Suzuki Bolan, being delivered under Punjab Rozgar Scheme, surged 82pc from 13,932 units to 25,348.
Suzuki Mehran sales rose 27pc to 28,367 units from 22,269, followed by a 12pc rise in Cultus sales to 11,747 units from 10,502, according to figures released by the Pakistan Automotive Manufacturers Association (PAMA) on Monday. Wagon R sales jumped 105pc to 6,857 units from 3,337.
Combined sales of Honda Civic and Honda City grew 13pc to 18,542 units from 16,405, while 2,996 units of Suzuki Swift were sold compared to 2,589 units a year earlier.
Consumers lifted a total of 43,344 units of Toyota Corolla during the period compared to 36,238 units in the same period of last fiscal year.
In other vehicles, Toyota Fortuner sales dropped to 428 units from 557, followed by a drop in sales of Sigma Defender to 173 units from 376.
Sales of Suzuki Ravi, another beneficiary of Punjab Rozgar Scheme, nearly doubled to 25,348 from 13,999. Toyota Hilux sales slightly inched up to 3,732 units from 3,346.
Mohammad Tahir Saeed of Topline Securities attributed improving car sales to increase in auto financing due to 42-year low interest rates, Punjab taxi scheme, improving law and order situation and overall improvement in economic situation.
He noted that delivery time for new Corolla model is still hovering in the range of two to four months, depending on the variant.
As for Honda Civic and City, he said the latter remained the major contributor in this growth. Volumes of Honda Civic are expected to further dry out in the coming months in anticipation of new model launch in the second half of this year, he added.
TRACTORS: Combined sales of Fiat and Massey Ferguson declined to 7,947 and 13,534 units in July-March FY016 from 12,580 and 19,970 units in the same period last fiscal year.
On a month-on-month basis, however, their sales rose to 1,808 and 2,550 units in March 2016 from 1,135 and 1,806 units in the preceding month.
Farmers resumed buying tractors from January 2016 onwards after losing hope in the execution of subsidy schemes of Sindh and Punjab which were announced in the 2015-16 budget.
In contrast, Orient IMT tractor sales rose to 688 units in July-March 2015-2016 from 631 units in the same period last fiscal.
HEAVY VEHICLES: Sales of trucks reached 3,751 units from 2,727 units while bus sales hit 700 units from 398 units due to a surge in demand in the wake of China-Pakistan Economic Corridor and improving law and order situation.