LAHORE - According to the latest figures released by Pakistan Automotive Manufacturers Association (PAMA), the cumulative sale of auto industry, including LCVs, Vans and Jeeps, during first seven months of fiscal year 2017-18 (7MFY18) exhibited 25 percent annual growth to 147,700 units while the sales of cars in Jan were reported as 23,562 units, up 13 percent annually and 22 percent quarterly. Experts said that the change in import procedure, demand from online ride hailing services and availability of auto finance at lower rates have contributed to strong demand in outgoing month. This is the highest monthly unit sale recorded in a Jan month.
Experts believe Pak Suzuki, continues to be major beneficiary as majority of used car imports fall under lower engine capacity segment. PSMC exhibited robust growth where sales rocketed 24 percent as price conscious models Mehran (+27 percent YoY), Wagonr (+84 percent), & Cultus (+36 percent) all exhibited strong sales growth. 7MFY18 sales were up 31 percent YoY for PSMC to 83,017 units. Honda's sales clocked-in at 4,388 units staying up 10 percent.
Toyota's Indus Motors lagged behind peers with decrease of -7 percent/+18 percent YoY/MoM as it continues to face capacity constraints, though 7MFY18 units sales are up 4 percent YoY.