Friday, 11 January 2019

Car Sales Grow for the First Time in 12 Years in December 2018

Pakistan Automotive Manufacturers Association has released the car sales data for the month of December 2018. The auto sales recorded a month-on-month growth in December 2018 for the first time since the last 12 years.
Car sales in December increased to 16,141 units from 15,334 in November 2018.
The increase in sales is against the trend since buyers usually hold their purchases in the last month of the year for a change of model year.
The car sales went up by 1% on a year-on-year in December 2018 as compared to the same month of last year.
Total car sales in the first half fiscal year 2019 increased up to 104,038 units from 103,432 units as compared with the same period last year despite multiple price hikes by assemblers on account of currency depreciation, interest rate hikes and restriction on nonfilers to purchase cars.
The sales number for the first half of the financial year 2019 to 120,066 units, down 3% compared to the corresponding period of the previous year. This also marks the first time in five years where sales declined during the first half of a fiscal year.
According to assemblers, a number of buyers have changed their status to filer from nonfiler during the last six months.

Increased Sales for Pak Suzuki

This improvement is primarily due to higher sales of Pak Suzuki Motor Company, up 38% month-on-month.
However, on the other hand, year-on-year sales were up 2% from 11,448 units in December 2017 to 11,732 units in December 2018.
Higher sales were led by 32% year-on-year and 13% year-on-year increase in Cultus and Ravi sales, respectively.
Suzuki Cultus and WagonR sales grew to 10,757 and 16,081 units from 9,501 and 14,141 units respectively.


Indus Motors (INDU) recorded a healthy yearly growth of 16% led by 84% and 10% increase in the sales of Hilux and Corolla. On the other hand, Fortuner sales plunged by 33%.
On a monthly basis, volumetric sales were down 3% while sales went up 8% YoY for the first half 2018-19.


The fall in year-on-year sales for December 2018 was led by 50% lower BR-V sales and 19% lower sales of City and Civic variants on a year-on-year basis. “Although we expect monthly sales to recover slightly in January, we continue to expect falling volumes year-on-year,’” said the Topline report.

Tractor and Motorcycle Sales

The first half of current fiscal year ended on a negative note for tractor industry. Fiat and Massey Ferguson sold 8,155 and 16,110 units in the first half against 12,061 and 20,154 units in same period last fiscal year.
In the two-wheeler segment, Honda sales fell to 543,894 from 545,018 units while Suzuki and Yamaha’s sales rose to 11,864 and 12,947 from 10,442 and 10,354 units respectively.
United Auto Motorcycle, the second largest bike assembler, also registered a jump in sales to 203,308 from 198,246 units.


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