Lahore - The sales of cars, vans and jeeps in Pakistan’s auto rose by 9 percent year-on-year signifying a good start for FY19.
The continued growth is attributable to strong existing order book of the companies due to supportive macroeconomic landscape in previous months, which included relatively cheap financing and economic expansion - both conducive for growth. However, experts believe that with further interest rate hike and PKR devaluation on the cards along with only filers now being able to register new cars, this growth momentum may lose steam in the coming months.
Indus Motors (INDU) recorded the highest growth amongst its peers, with unit sales clocking in at 5,468 depicting 18 percent YoY growth. Hilux sales continued with the robust growth trajectory, going up by 44 percent YoY while Corolla sales were up by 18 percent YoY. On the other hand, Fortuner sales disappointed, dipping by 19 percent YoY.
Honda (HCAR) witnessed decent growth, up 10 percent YoY, as sales of Civic and City variants continued with the robust trajectory, growing by 21 percent YoY. However, significant drop was seen in BR-V sales, by 46 percent YoY.
Pak Suzuki Motor Company (PSMC) experienced meager growth of 4 percent YoY. The slowdown in growth is attributable to decline in volumes of Ravi, Bolan and Cultus variants by 34 percent, 19 percent and 12 percent respectively. However, sales of Wagon-R, Mehran and Swift displayed significant growth, rising by 43 percent, 20 percent and 68 percent respectively.
FOODPANDA EXPANDS ECOSYSTEM: In a food landscape that is as competitive and constantly growing as Pakistan, food panda continues to expand its footprint across big and small cities alike. This time around, the country’s most adored food delivery maestro is expanding to further dominate the capital city of scrumptious meals.
Since its inception in 2012, foodpanda has been tirelessly infusing innovation with experience all the while pumping up revenues for the restaurant industry in Pakistan. The food delivery e-commerce giantis a convenient platform that enables local restaurants to connect to their potential audience henceletting you order the food you love!
To discuss, share and announce expansion plans in Lahore, foodpanda hosted a press meet-up at Pearl Continental Hotel on the 8th of August, 2018. The evening welcomed attendees from the local restaurant industry and Lahore Restaurant Association (LRA), food & lifestyle bloggers, digital and mainstream mediapersonnel and top customers of foodpanda. All attendees shared their thoughts and experiences over delicious food and desserts and some piping hot news for all of Lahore.
Speaking on the occasion, Commissioner Lahore Dr Mujtaba Paracha said, “Lahore welcomes and acknowledges foodpanda’s efforts to bring good food to where it rightfully belongs. With a swift delivery management system and high standards of customer service, foodpanda has revolutionised how the restaurant industry in Pakistan functions. We wish them all the best!”