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Toyota & Honda Stable Despite 4% Drop in Locally Produced Car Sales

The sales of locally produced cars reduced from 22,513 units in January 2019 compared to 23,562 units in the same month in 2018, dropping by 4%. The decline is attributed to the ban imposed on non-filers as well as the recent surge in prices. Most auto companies have increased their prices 4-6 times in during the past year.

According to the mini-budget tabled in January, the ban is no longer in place on low-tiered vehicles, however, an official notification is yet to surface in this regard.

On the other hand, month-on-month sales increased by 16%. Topline Securities official, Syed Daniyal Adil believes that the numbers for auto sales are better than earlier anticipations.

January’s numbers are also better as the market is anticipating a new round of price hike due to 5% rupee depreciation in November and December.

Indus Motor Company

Indus Motor enjoyed a 16% growth in sales year-on-year in January 2019 thanks to strong advance bookings despite 5% and 45% decline in the sales of Hilux and Fortuner variants, respectively. The sales of Corolla variants increased by 26% year-on-year.

Honda Atlas

Honda Atlas sales saw a 3% year-on-year increase despite a 2% fall in BR-V sales. City and Civic sales increased 4% on a yearly basis. Despite witnessing a decline in sales in November last year, January proved to be a good month as people wanted to get their hands on new cars before the anticipated price hikes.

Pak Suzuki Motor Company

Pak Suzuki Motor Company’s sales declined by 15% year-on-year in January 2019. According to a report,

Pak Suzuki sales’ volume has fallen in every month since Aug 2018 except for Dec 2018. Sales’ decline was led by Mehran, Bolan, Swift and Ravi variants, down 37%, 27%, 28% and 11% respectively.

On a yearly basis, the sales of WagonR and Cultus increased by 15% and 7% respectively.

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