KARACHI: The auto sales dropped by 17 per cent month-on-month (MoM) basis in April 2021, Pakistan Automotive Manufacturers Association (PAMA) said on Monday.
However, if the data includes the sales of Lucky Motor Corporation (KIA), it declined by 16 per cent. However, car sales rose by 39 per cent year-on-year (YoY) in the first 10 months of the current financial year.
Total car sales during July-April 2020-21 rose to 126,679 units from 85,330 units in the same period last fiscal year.
The main reason behind this decline is lockdown measures taken by the federal and provincial governments, said an analyst at Topline Brokerage. He further claimed that Ramzan is the second reason as the auto sales always go down in this month.
According to the analysts, there were some supply-side issues in Suzuki, Toyota and Honda. The imports of the Complete Built Units (CBU) and spare parts were delayed because of the non-availability of containers in east-Asian countries.
According to the analyst, amid countrywide lockdowns imposed by the government last year, no car sales were recorded during April 2020.
Honda Atlas Cars (HCAR) reported the highest decline in car sales by 27 per cent on MoM. Indus Motor (INDU) sales declined by 20 per cent MoM and Pak Suzuki (PSMC) sales dropped by 15 per cent on MoM in April 2021.
The analyst claimed that Hyundai Nishat’s sales increased by 24 per cent MoM primarily driven by Elantra sales, which were up by 509 per cent MoM.
Lucky Motor Corporation sold in the range of 1,800 to 2,000 units, the analyst claimed. Meanwhile, the sales of Changan, MG motors also increased during the said month.
Atlas Honda (ATLH) recorded motorbike sales of 115,001 units in April 2021, down 8 per cent on MoM basis.
Honda Civic and City sales grew by 74 per cent to 20,869 units in July-April 2020-21. In 10MFY21, Toyota Corolla sales stood at 14,979 units, showing a fall of 29 per cent.
Suzuki Cultus and Suzuki WagonR sales swelled by 27 per cent and 68 per cent to 13,420 and 10,314 units respectively in 10MFY21. Cultus sales fell flat at 1,312 units in April from 1,637 units in March while WagonR sales increased to 1,447 units in April from 1,259 units in March.
Tractor sales in Marach 2021 are down by 19 per cent MoM. Millat Tractors (MTL) sales declined by 9 per cent MoM, while Al Ghazi Tractors (AGTL) sales dropped by 36 per cent MoM.
