Car sales have inched closer to a new high of 19,000 units for the month of May 2017.
As per the latest statistics by Pakistan Automotive Manufacturers Association (PAMA), the total OEM sales leaped up by +25%YoY to 183,142 units during May‐17 as compared to the same time period from the previous year. This growth in numbers was led by +20%/+25%YoY rise in passenger car/2‐Wheeler sales owing to the new model launch of Suzuki Cultus by PSMC and Honda BRV by HCAR.
The performance chart was led by Pak-Suzuki Motor company (PSMC), followed by Indus Motor Company (INDU) and Honda Atlas (HCAR). IGI Securities mentioned that Pak-Suzuki registered a sale of 11,131 units, Indus Motors registered a sale of 4929 units, followed by Honda Atlas with 4,660 units sold in the month of May 2017.
Improving sales figures paved way for increased competition between Honda Atlas (HCAR) and Indus Motor Company. Since the launch of new Honda Civic, HCAR is showing continuous signs of growth, while Toyota’s flagship Corolla seems to be on a back-foot. Reports suggest that Civic and City sales leaped up by 86%YoY growth as opposed to Corolla sales, which have witnessed a drop of -19%YoY to 4220 Units. HCAR’s improving sales figures are also augmented by the successful launch of Honda BR-V, reportedly the company has sold 527 units in April and 876 units in May 17’.
Life on the Pak-Suzuki’s side of the pond seems to be showcasing a steadily increasing productivity graph, the company’s overall sales have seen a healthy increase of 24% (YoY) compared with the same period of last year. Both WagonR and Cultus witnessed a substantial increase of 172%YoY and 28%YoY. IGI Securities’ report highlights that Pak-Suzuki sold 1,927 units of WagonR and 2,012 units of Cultus in May 2017.
Additionally, commercial vehicle sales also recorded a healthy growth of 22%YoY to 904 units in May 2017. The aforementioned report highlights that Ghandhara Industries Limited (GHNI) manufacturers of M/HDV posted a growth of +61%YoY to 325 units while Millat Tractors Limited (MTL) witnessed a substantial increase of +53%YoY 3413 units during May‐17.
The Pakistan’s auto-industry is being predicted to continue its course towards growth owing to China-Pakistan Economic Corridor and other development related projects.
