LAHORE - The auto sales showed buoyant performance in April 2018 and recorded growth of 39 percent YoY to 25,567 units. Stellar performance in cars segment was driven by record sales of Pak Suzuki Motors (PSMC) with total sales volume of 14,781 units (+61 percent YoY).
PSMC sales surged by 61 percent YoY as sales of Ravi and Wagon R doubled during the month. While, other brands like Bolan, Swift and Cultus showed impressive growth of 89 percent, 77 percent and 58 percent YoY, respectively. Moreover, Pak Suzuki delivered its March commitments in April, resulting into stronger April sales.
Similarly, Indus recorded its second highest sales of 6,183 units, up by 10 percent YoY largely driven by Fortuner, +147 percent YoY. While Hilux and Corolla sales surged by 6 percent and 4 percent, respectively.
Honda Cars (HCAR) sales jumped by 31 percent YoY to 4,603 units, where robust growth came from City due to its rising popularity in upper middle class.
Cumulatively, in 10MFY18, cars sales depicted 23 percent growth rate, where both PSMC and HCAR crossed their last year’s sales.
Tractor sales continued positive trajectory and portrayed 27 percent YoY growth owing to continuation of lower sales tax of 5 percent on tractors. Among companies, AGTL outperformed in tractors segment with growth of 35 percent, while Millat sales went up by 24 percent YoY.
In trucks and buses segment, Master outperformed industry growth by 63ppts (82 percent versus industry growth of 19 percent). Moreover, HINO and ISUZU showed growth of 2 percent and 25 percent respectively on back of higher construction activities driven by China Pak Economic Corridor (CPEC), PSDP and private sector growth.
In motor bikes segment, Atlas Honda (ATLH) touched a new milestone in terms of both production and sales at 116k and 115k units, respectively. Overall, bikes and three wheelers segment went up by 27 percent YoY.