Pakistan Automotive Manufacturer’s Association (PAMA) has released the sales figures for the month of September 2020.
According to the data, the auto sector has recovered quite a bit as compared to the post-lockdown months, recording 13,892 vehicles sold in September 2020, which amounts to a 20% Month on Month (MoM) increase and an 18% Year on Year (YoY) increase.
The data released by Topline Securities further shows that Pak Suzuki Motor Company (PSMC) has experienced a MoM sales increase of 8% while facing a YoY sales decrease of 20%. Toyota Indus Motor Company (IMC) continues on a strong upward trajectory, recording a YoY sales increase of 106% and a MoM sales increase of 32%.
Honda Atlas Cars also saw some promising growth, recording a MoM sales increase of 20% and a YoY sales increase of 87%. One of the newcomers in the market to join PAMA, Hyundai Nishat, sold 215 units of the Tucson and 101 units of Porter, selling 316 vehicles in total in the month of September 2020.
Overall, here’s how all the automakers did in terms of sales:
|Auto Sales (As Reported By PAMA and Compiled By Topline Securities)|
|Units||Units Sold in September 2020||YoY Change||MoM Change|
|City & Civic||2,293||68%||16%|
As can be seen in the table, Honda Atlas and Toyota IMC amazingly continued on a steep upward trajectory, whereas Suzuki continues to face a downward trend for the 2nd consecutive month on a YoY basis. Hyundai has seen a considerably decent growth as compared to last month, but not nearly as good as Kia, which continues on with its strong sales figures.
The market dynamics are likely to experience a huge hit though, as there are a few new automakers inbound and the pre-existing ones would also be planning something new to offer with the start of next year. Whether or not the change is for the better, we are yet to see.