Increasing costs, economic recession hurt auto sales

auto

KARACHI: Decreasing Suzuki Mehran and Bolan sales, several cost hikes, costly interest rates, and increasing petrol costs slowed down total auto sales of locally manufactured automobiles in April as well as in the 1st 10 months of the present fiscal yr, according to latest information introduced by the Pakistan Automotive Manufacturers Association ( PAMA ).

The information introduced on Monday showed that auto sales in April plunged to 17,076 from 19,877 units in March while 10MFY19 ended flat at 177,435 versus 182, 911 units. Through the 1st 10 months of the fiscal yr, sales of Honda Civic and City faded to 34,819 from 36,119 units while those of Toyota Corolla, Suzuki Cultus and Suzuki Wagon R soared to 48,245, 19,229 and 27,223 units from 43,190, 17,709 and 23,824 units respectively.

Pak Suzuki Motor Corporation Limited lastly closed off down manufacturing of Suzuki Mehran type as per figures introduced by the PAMA as the company had previously its decision to quit manufacturing. Buyers had shifted to other models resulting in sales of Mehran declining to 29,140 units compared to 39,450 units during a similar period a year ago. Sales of Bolan also fell to 15,016 from 18,494 units. Mehran and Bolan generally made up for the major chunk of total auto sales in the nation. The final 10 months also ended on negative mention for Toyota Fortuner and Honda BR-V as sales plunged to 2,204 and 4,205 units from 3,264 and 7,497 units respectively.

Suzuki Ravi struggled at 15, 587 units compared to 18,473 units whereas sales of Toyota Hilux came down to 4,855 in the last 10 months from 6,156 units. Trucks quick sales, considered as a barometer of the local and foreign deal, remained sluggish as only 5,120 units were marketed in the past ten months compared to 7,703 units, while bus quick sales increased to 780 from 585 units. Tractor quick sales were marred by persistent downward trend like Fiat and Massey Ferguson stood at 15,872 and 26,950 units from 23,829 and 36,184 units respectively in the 1st ten months of the present economic yr.

Sales of two-wheelers industry chief Honda fell to 928,931 units in 10FY19 from 953,556 units while those of Suzuki and Yamaha enhanced to 19,669 and 19,999 units from 17,811 and 17,397 units respectively in July-April 2017-2018. An analyst at the very top Series Securities declared the dip in April sales was because of the regular cost hikes by the all assemblers which is having its impact on auto information while economic slowdown also contributed to decreasing quick sales.

Through the cumulative period under analysis, sales were down due to regular modifications in filer and non-filer regulations, delaying auto loan surrounded by costly interest rates since January 2018. A car supplier declared the hike in federal excise work by 10 percent also impacted sales of 1,700cc and above vehicles.

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