Morpheus
SENIOR MEMBER
- Joined
- Mar 5, 2017
- Messages
- 3,060
- Reaction score
- -1
- Country
- Location
Automobile sale rises 44% in January
Thu, 11 Feb 2021, 9:23 PM
ISLAMABAD, Feb 11 (APP):Sale of cars in the country increased by 44 per cent in January compared to same month of the preceding year, a data released by Pakistan Automobile Manufacturing Association (PAMA) said on Thursday.
Sale of cars rose to 14,543 units in January compared to 10,095 units during same period of previous year.
Sale of cars during first seven months (Jul-Jan) also increased by 18 per cent when compared with the sale during same period of the year 2019-20.
According to the data, as many as 81,569 cars were sold in the period under review as compared to 69,189 units in same period of last year.
The breakup figures show that 2,063 units of Honda civic and city were sold during January this year as compared to the sale of 1,878 units last year, thus showing a jump of 9.85 percent.
Toyota Corolla cars’ sale however witnessed negative growth of 55.7 per cent as it went down to 1,525 units in the corresponding month from 3,445 units in same period of previous year.
Suzuki Swift’s sale made a jump of 152 percent as its sale increased to 364 units from 144 units in January 2020.
Similarly, the newly launched Toyota Yaris also witnessed an increase of 107 percent as its sale jumps from 1,440 units in December 2020 to 2,992 units in January 2021.
Sale of Suzuki Cultus declined to 1,470 units in the month under review whereas during same period last year, the sale was recorded at 1,701 units.
The sale of Suzuki Wagon R witnessed a sharp increase to 1,316 units from 567 units in January last year.
Suzuki Alto also witnessed a decrease as it went up from 2,360 units in January 2020 to 4,813 units in same month of current year.
Meanwhile, sale of motorbikes witnessed a rise of 14 percent as it rose to 162,564 units in January compared to sale of 142,445 units in same month of last year.
www.app.com.pk
++++++++++++
Pak Suzuki Makes An Unbelievable Comeback to the Top While Kia Overtakes Honda
Posted 2 hours ago by Waleed Shah
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.
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) sales 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 sales increase of 36 percent and MoM sales increase of 36 percent. Honda Atlas Cars sold a respectable 2,450 vehicles last month, recording an MoM sales increase of 39 percent and a YoY increase of 11 percent.
Hyundai Nishat sold 515 vehicles during the same month, resulting in an MoM increase of 1 percent in sales. Kia – which is not a member of PAMA – sold approximately 2500 units last month as per the reports from Topline.
Overall, car sales increased by 26 percent on an MoM basis in January of 2021.
Here is how the automakers affiliated with PAMA performed in terms of passenger vehicle sales during January 2021 (excluding commercial vehicles):
With the new EV-policy for four-wheeled vehicles soon to be released, plus the Automotive Industry Development and Export Plan (AIDEP 2021-26) also soon to be formed, the auto industry of Pakistan is in for a massive paradigm shift. Whether or not it would serve the current automakers well remains to be seen.
propakistani.pk
++++++++++++++++++++++++
Auto-Loans in Pakistan Increased by Rs. 41 Billion in December 2020
Posted 1 week ago by Waleed Shah
Following a decrease in the interest rates and the rejuvenation of business activities after the initial pandemic-induced lockdowns, auto loans reportedly increased by 19 percent, amounting to Rs. 41 billion in December 2020.
As per the figures compiled by the Central Bank, the car loans of December 2019 had been recorded as Rs. 219 billion, and increased to Rs. 256 billion during the same time period in 2020. A media report suggests that the key driver of the increase had been the growing demand for 1300 cc passenger vehicles.
Although no names were quoted by the media outlet, the report indicates that the high demand for the newly launched Toyota Yaris was majorly responsible for the increase in the loans. This is a fair assumption as, for the past several months, the Yaris alone has outsold both the Honda City and Civic combined.
The other key driver of the increase in the loans is the lowered interest rate. The State Bank of Pakistan had reduced the interest rates by 625 basis points to 7 percent in 2020. Additionally, a decrease in the rates of the soft interests meant lesser installments for car financing programs.
A few fair price hikes by the automakers in 2020 seemingly had no impact on the rising demand for cars. In fact, with new players still entering the market before the expiration of the Auto Development Policy (ADP) 2016-21, it is safe to say that the demand for cars is likely to surge even more.
propakistani.pk
+++++++++++++++
Thu, 11 Feb 2021, 9:23 PM
ISLAMABAD, Feb 11 (APP):Sale of cars in the country increased by 44 per cent in January compared to same month of the preceding year, a data released by Pakistan Automobile Manufacturing Association (PAMA) said on Thursday.
Sale of cars rose to 14,543 units in January compared to 10,095 units during same period of previous year.
Sale of cars during first seven months (Jul-Jan) also increased by 18 per cent when compared with the sale during same period of the year 2019-20.
According to the data, as many as 81,569 cars were sold in the period under review as compared to 69,189 units in same period of last year.
The breakup figures show that 2,063 units of Honda civic and city were sold during January this year as compared to the sale of 1,878 units last year, thus showing a jump of 9.85 percent.
Toyota Corolla cars’ sale however witnessed negative growth of 55.7 per cent as it went down to 1,525 units in the corresponding month from 3,445 units in same period of previous year.
Suzuki Swift’s sale made a jump of 152 percent as its sale increased to 364 units from 144 units in January 2020.
Similarly, the newly launched Toyota Yaris also witnessed an increase of 107 percent as its sale jumps from 1,440 units in December 2020 to 2,992 units in January 2021.
Sale of Suzuki Cultus declined to 1,470 units in the month under review whereas during same period last year, the sale was recorded at 1,701 units.
The sale of Suzuki Wagon R witnessed a sharp increase to 1,316 units from 567 units in January last year.
Suzuki Alto also witnessed a decrease as it went up from 2,360 units in January 2020 to 4,813 units in same month of current year.
Meanwhile, sale of motorbikes witnessed a rise of 14 percent as it rose to 162,564 units in January compared to sale of 142,445 units in same month of last year.
Automobile sale rises 44% in January
Sale of cars in Pakistan increased by 44 per cent in January compared to same month of the preceding year.
www.app.com.pk
Pak Suzuki Makes An Unbelievable Comeback to the Top While Kia Overtakes Honda
Posted 2 hours ago by Waleed Shah
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.
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) sales 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 sales increase of 36 percent and MoM sales increase of 36 percent. Honda Atlas Cars sold a respectable 2,450 vehicles last month, recording an MoM sales increase of 39 percent and a YoY increase of 11 percent.
Hyundai Nishat sold 515 vehicles during the same month, resulting in an MoM increase of 1 percent in sales. Kia – which is not a member of PAMA – sold approximately 2500 units last month as per the reports from Topline.
Overall, car sales increased by 26 percent on an MoM basis in January of 2021.
Here is how the automakers affiliated with PAMA performed in terms of passenger vehicle sales during January 2021 (excluding commercial vehicles):
| Passenger Vehicle Sales (As Reported By PAMA) | |
| PSMC | |
| Passenger Cars | Units Sold in December 2020 |
| Cultus | 1,470 |
| Alto | 3,827 |
| Wagon R | 1,316 |
| Bolan | 986 |
| Swift | 364 |
| Toyota Indus | |
| Corolla | 1,525 |
| Yaris | 2,992 |
| Fortuner | 387 |
| Honda Atlas | |
| City & Civic | 2,063 |
| BR-V | 419 |
| Hyundai Nishat | |
| Tucson | 387 |
With the new EV-policy for four-wheeled vehicles soon to be released, plus the Automotive Industry Development and Export Plan (AIDEP 2021-26) also soon to be formed, the auto industry of Pakistan is in for a massive paradigm shift. Whether or not it would serve the current automakers well remains to be seen.
Pak Suzuki Makes An Unbelievable Comeback to the Top While Kia Overtakes Honda
The Pakistan Automotive Manufacturers Association (PAMA) has released car sales figures for January 2021. According to the figures gathered and shared by
propakistani.pk
Auto-Loans in Pakistan Increased by Rs. 41 Billion in December 2020
Posted 1 week ago by Waleed Shah
Following a decrease in the interest rates and the rejuvenation of business activities after the initial pandemic-induced lockdowns, auto loans reportedly increased by 19 percent, amounting to Rs. 41 billion in December 2020.
As per the figures compiled by the Central Bank, the car loans of December 2019 had been recorded as Rs. 219 billion, and increased to Rs. 256 billion during the same time period in 2020. A media report suggests that the key driver of the increase had been the growing demand for 1300 cc passenger vehicles.
Although no names were quoted by the media outlet, the report indicates that the high demand for the newly launched Toyota Yaris was majorly responsible for the increase in the loans. This is a fair assumption as, for the past several months, the Yaris alone has outsold both the Honda City and Civic combined.
The other key driver of the increase in the loans is the lowered interest rate. The State Bank of Pakistan had reduced the interest rates by 625 basis points to 7 percent in 2020. Additionally, a decrease in the rates of the soft interests meant lesser installments for car financing programs.
A few fair price hikes by the automakers in 2020 seemingly had no impact on the rising demand for cars. In fact, with new players still entering the market before the expiration of the Auto Development Policy (ADP) 2016-21, it is safe to say that the demand for cars is likely to surge even more.
Auto-Loans in Pakistan Increased by Rs. 41 Billion in December 2020
Following a decrease in the interest rates and the rejuvenation of business activities after the initial pandemic-induced lockdowns, auto loans reportedly
propakistani.pk
