Karachi: Car sales have increased by 35 % Year-over-Year (YoY) to 16,436 units in February 2021, and including Lucky Motors Corporation (KIA, a non-member of PAMA), the sales have gone up by 55 % YoY.
According to a Pakistan Automotive Manufacturers Association (PAMA) report, Pak Suzuki (PSMC) has yet again successively taken the lead with a massive increase of 66 % YoY. The rise is primarily driven by Alto and Ravi with sales of 4,245 (+162 % YoY) and 1,268 (106 % YoY) units respectively in February 2021.
Honda Car (HCAR) registered a sales increase of 13 % YoY, while INDU’s sales declined by 3 % YoY, the report claimed.
New entrants into Pakistan’s automotive space, Hyundai Nishat sold 651 units in February 2021 and Lucky Motors sold 2,500 units, the Topline Brokerage house report said.
Passenger Car sales declined by 6 % Month-over-Month (MoM) in Feb-2021. The decrease in numbers has been on the back of a decline in INDU sales (-20 % MoM) largely due to seasonally high January sales and some supply-side disruptions.
Atlas Honda (ATLH) recorded motorbike sales of 104,005 units in February 2021, up by 16 % YoY. In 8MFY21, sales have increased by 19 % YoY.
Tractor sales in February 2021 are up by 42 % YoY but down by 15 % MoM. Millat Tractors (MTL) recorded an increase of 49 % YoY (-22% MoM) while Al Ghazi Tractors (AGTL) sales increased by 30 % YoY (+7 % MoM), respectively.
