The sales of car, including LCVs, vans and jeeps, declined by 32 percent to 39,938 units during 4MFY13 compared to 58,801 units in the same period in FY12.
October saw the car sales contracting further to the 16-months low to 9,397 units, which are down three percent from last month and 38 percent from last October.
“We attribute subdued sales to termination of ‘Coure’, ‘Alto’ and taxi scheme in addition to large inflow of imported CBUs impacting locally assembled cars,” viewed Topline analyst Zeeshan Afzal. Amongst individual companies, Pak Suzuki (PSMC) sales declined by 35 percent to 22,753 units as against 34,877 units sold in the same period last year.
During the review month, the company’s sales stood at 5,094 units down 40 percent from 8,462 unit in the same month last year while have declined by 16 percent from 6,042 units last month.
Similarly, during 4MFY13, Indus Motor (INDU) sales declined to 11,003 units, 38 percent down compared to same period last year. However, on monthly basis, INDU car sales picked up to 2,704 units in October, up 28 percent MoM. “Rise in sales is attributable to 22 percent MoM growth in ‘Corrola’ sales to 2,155 units and 57 percent MoM growth in ‘Hilux’ to 549 units,” said Afzal.
