Automobile fell 17% month-on-month in April 2021 in the wake of slack demand and supply constraints; but in the first 10 months of the current fiscal year; the sector registered a jump in demand. According to figures released by the Pakistan Automotive Manufacturers Association (PAMA) on Monday; car sales declined to 17,144 units in April 2021 from 20,801 units in March 2021. Topline Securities in its report stated that the decline in month-on-month; sales came mainly due to the month of Ramazan and supply-side issues. The report added, “To recall, due to countrywide lockdowns imposed by the federal and provincial governments in March-April 2020; no car sales were recorded during April 2020.” Kia Lucky Motors (non-member of Pama); posted a 16% drop in car sales on a month-on-month basis.
Pak Suzuki Makes An Unbelievable Comeback to the Top Sales:
The Pakistan Automotive Manufacturers Association (PAMA); has released car sales figures for January 2021. According to the figures gathered and shared by Topline Securities; the auto sector has recorded a remarkable 17,515 vehicle sales; in January 2021, which is up by 46 percent compared to the sales in January of last year. Topline security’s report further suggests that if KIA’s sales; are also added to the equation; the percentage is bumped up to 67 percent on a Year on Year (YoY) basis. It bears mentioning here that Lucky Motors – the company that reintroduced KIA in Pakistan – is still not a member of PAMA.
Pak Suzuki Motor Company reported a profit of Rs777.8 million for the quarter ended March 31, 2021 primarily due to a spike in sale which had remained muted last year in view of the nationwide lockdown.
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The data further shows that the Pak Suzuki Motor Company (PSMC) has once again taken the lead in sales volume, having sold 9,013 vehicles in January 2021; recording a Month-on-Month (MoM) sale increase of 19 percent and a YoY sales increase of 62 percent. Toyota Indus Motor Company (IMC) sold 5,452 vehicles in January 2021, recording a YoY sale increase of 36 percent and MoM sale increase of 36 percent. Honda Atlas Cars sold a respectable 2,450 vehicles last month, recording an MoM sale increase of 39 percent and a YoY increase of 11 percent.