LAHORE - Pakistan local cars sales (including LCVs, vans and jeeps) during 10MFY14 have reached 112,470 units, 3.8%YoY higher as compared to 108,334 units in the same period last year.
On monthly basis, locally manufactured auto sales have remained fairly stable at 12,250 units in April 2014 versus 12,269 units in Mar 2014. However, auto sales improved by 2%YoY from 12,011 units in Apr 2013.
Amongst individual companies, Pak Suzuki (PSMC) sales increased by 2%YoY to 62,873 units during 10MFY14 as compared to 61,689 units last year. On monthly basis, PSMC sales surged significantly to 7,359 units in Apr 2014, up 22.8%MoM, compared to 5,992 units in Mar 2014 and 17.5%YoY. Experts believe this phenomenal increase was due to 1-3% reduction in prices of cars by PSMC at the start of Apr 2014. The company also launched its new variant ‘Wagon R’ in Apr 2014 which contributed 309 units in sales. During 10MFY14, Indus Motors (INDU) sales remained stable at 29,581 units compared to 29,762 units in 10MFY13. However, on monthly basis, company posted a massive decline in sales to 2,854 units, down 29.6%MoM, from 4,051 units in Mar 2014 and 27.5%YoY. Experts link the decline in INDU volumes is due to the expected launch of new Corolla Model in Aug-Sep 2014.
Honda Cars (HCAR) sales surged by 13.3%YoY to 18,742 units 10MFY14. During Apr 2014, sales of HCAR decreased by 1.1%MoM to 1,950 units. Moreover, volumes increased by 9.6%YoY from 1,780 units in Apr 2013.