Pakistan Automotive Manufacturers Association (PAMA) has released the sales numbers for the month of February 2018. According to the statistics, the sales of locally assembled vehicles and Light Commercial Vehicles (LCVs) increased by 15% compared to the same month last year.
Local auto manufacturers sold a total of 22,654 units in February this year, as compared to the 19,686 units that were sold in February last year. This increase may be attributed to the strict import policy that government implemented to decrease trade deficit and imports.
Light Commercial Vehicles’ Sales
The sales of LCVs increased by 41% year-on-year for February 2018. 3,627 units of LCVs were sold in February this year as compared to the 2,467 units sold in February 2017. Hilux sales increased by 33% as well to reach record sales numbers.
Tractor sales went up to touch 6,454 units in February 2018. Last year, during the same month, 4,647 units of tractors were sold. The major contributor to the sales of tractors is the reduced General Sales Tax on tractors which decreased to 5% from 10%. Al-Ghazi Tractors Ltd saw an increase of 40% year-on-year in its sales.
Here are how the sales for each major company went for the month of February.
Pak Suzuki saw the most sales among the top three automobile giants in Pakistan. This growth is mainly because of the increased sales of Suzuki Mehran and the recently upgraded Suzuki WagonR.
- Suzuki sold 1,000 more units of Mehran in February 2018 as compared to February 2017.
- Suzuki sold 447 more units of Suzuki WagonR year-on-year for the month of February.
Suzuki posted a year-on-year overall increase of 25% in its sales.
Honda posted some decent profits as well due to the increasing popularity of BR-V model and Honda City sedan. Honda sold 661 more units of its BR-V model in last month as compared to February 2017.
Overall, Honda Atlas saw an increase of 20% in its sales over the month of February as compared to last year in the same month.
Toyota Pakistan, formally known as Indus Motors Compay, failed to gather the attention of Pakistani automobile market. In fact, Toyota took a hit as its sales decreased in February as compared to last year.
Toyota’s sales decreased by 8% in February 2018 as compared to February 2017.
However, despite Toyota’s dip, overall auto sales are expected to increase in the upcoming days. This is mainly because of the CPEC projects and entry of global automobile superpowers like Renault, Hyundai and Kia etc in the Pakistani market.