LAHORE - According to latest PAMA data, Pakistan local car assemblers, including LCVs, Vans and Jeeps, have sold 22,000 units in August 2017, an increase of 25 percent annually. These numbers are above the estimates. Experts attribute this increase to string of new models and facelift introduced recently propelling sales.

Sales of Honda (HCAR) have outperformed peers, posting 47 percent YoY growth. These are the highest monthly sales in history of the company at 4,666 units due to successful introduction of new Civic model and new SUV variant BR-V. Sales of Pak Suzuki Motor Company have increased by 32 percent YoY in August 2017 due to strong sales of Wagon-R, +75 percent YoY and new model of Cultus increased by 69 percent YoY. Mehran sales also rocketed +28 percent YoY supporting PSMC’s sales growth.

Indus Motors sold 5,541 units an uptick of 2 percent YoY. The company’s focus remained on production of higher margin Fortune whose sales have shown stellar growth of 284 percent YoY. Also, buyers have resumed purchase of corollas which have shown YoY growth of 5 percent post the recent model facelift. Tractor sales continue to exhibit upward trajectory with sales growing by 115 percent YoY in August 2017. AL Ghazi tractor (AGTL) has been the top performer in this segment with robust monthly sales growth of 26 percent.

Truck and bus sales of PAMA member companies in August 2017 remained strong, growing by 20 percent YoY.

“We foresee this trend to continue, fuelled by CPEC led growth, higher road connectivity, lower financing rate and change & enforcement of axle load limit per truck on highways by National Highway Authority (NHA).