Car Sales Increase by 16.3% in Last 11 Months - ebike.pk

Car Sales Increase by 16.3% in Last 11 Months




 

Car sales have magnified by 16.3% to 201,134 units throughout the primary eleven months of the present year 2017-18. Low-interest rates and the growing demand for cab schemes largely increased automobile sales.
Data from the Pakistan Automotive makers Association (Pama) shows that automobile sales within the time period of July-May of the past year amounted to 172,911 units. Analysts argued that rising automobile funding, varied cab schemes, and improved economic indicators caused robust sales growth by automobile makers.

Auto assemblers faced a drawback of 15% in car sales at the time of May in the year 2018. This was caused as a result of an increase in automobile costs and therefore the government restriction of non-prosecutors of taxation returns who were unable to purchase a new automobile, also, the production slowed down because of reduced operating hours in the month of Ramadan.





PAMA recorded the automobile sales of 18,223 units in the month of May, a rise of 4.2% on an annual basis. On a month-on-month basis, however, automobile sales in May fell by 21,540 units, because the Ramazan season usually caused a delay in sales.

The positive development in automobile sales was mostly driven by a noteworthy performance by Indus Motor Company, that performed extremely well in the market as sales of Corolla and Fortuner remained strong.

During the time of July-May, however, Corolla’s sales bated to 47.866 units compared to 49.667 units for the corresponding month a year before.

A lower amount of sales of sports vehicle Honda BRV that was launched in April, last, was recorded.

Strong sales in Swift, Wagon R and Ravi contributed to the growth for Pak Suzuki. Sales of Honda cars bated fractionally to 3,750 units in may compare to 3,784 units within the same month a year earlier.

The turnover of BRV amounted to 502 units in May, compared to 876 units a year earlier. Within the amount July-May, the sale of BRV raised to 7,999 units compared to 1,403 units a year earlier.

As within the automotive market, motorbike sales within the country show double-digit growth, principally as a result of economic stability and better disposable incomes.

Turnover has full-grown due to the vigorous demand for affordable transport in speedily urbanizing cities and villages. The never-ending increase in native and foreign motorcycles and automobiles is an indicator of what the demand can result in within the future.