The first half of FY13 saw the sales of locally produced cars, including LCVs, Vans and Jeeps, sliding by 30 percent. According to market observers, car sales during FY13 dipped to 57,540 units from 81,944 units out during the corresponding period in FY12.
The official figures for the sales of imported cars, however, are yet to be released.
A monthly account shows that the locally manufactured car sales slid to 8,448 units in December (2012), down by 8 percent compared to 9,154 units in November. This shows a 25% decline compared to 11,217 in the same month last year.
“Plunge in the sales is on account of high imports of used imported CBU’s prior to restriction on imports, termination of Non EURO-II compliant cars (‘Alto’ and ‘Coure’) and absence of taxi scheme,” said Zeeshan Afzal, an analyst at Topline Research.
Among the individual companies, Pak Suzuki’s (PSMC) sales declined by 32% to 34,324 units during the first six months of FY13 compared to 50,718 units last year.
However, on a monthly basis, PSMC’s sales picked up to 5,987 units in December, 2012, up by 7%, compared to 5,584 units in November 2012 on account of increased sales of cargo vehicles ‘Bolan’ and ‘Ravi’. Indus Motors’s (INDU) sales came down by 39% to 14,699 units during FY13 as compared to 24,066 units in the first six months of FY12. “Decline in sales is primarily contributed by 38% decline in Corolla sales which stood at 12,429 units in the first half of FY13,” said Afzal. INDU’s sales, on monthly basis, declined to 1,571 units in December, a 26% decrease compared to 2,125 units in November 2012 and 50% decrease as compared to 3,134 units in November 2011.
