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By Moonis Ahmed
KARACHI: Car sales witnessed an increase of 17 percent in October10 to 13,704 units compared to 11,699 last month, recent data released by Pakistan Automotive Manufacturers Association said Thursday.
After remaining depressed in the last 2 months (August-September 2010), Indus Motor sales have rebounded. During October 2010, Indus motors sold 4,830 cars up 41 percent compared to 3,433 units in September 2010. This shows that the impact of floods on sales has started to fade out and thus sales are expected to improve once economy starts recovering particularly the agriculture sector. This was followed by Pak Suzuki as it sold 7,459 units versus 6,838 units in September 2010, up 9 percent.
Thus in 4MFY11, car sales improved by 10 percent to 47,391 units compared to 43,074 units in the same period last year. The major increase was seen in sales of Indus Motor as its sales grew by 11 percent to 16,622 units compared to 14,910 units last year. This was slightly better than Pak Suzuki whose sales increased by 10 percent to 25,279 units compared to 22,929 units in the same period last year.
Though sales are improving, analyst expect shrinking gross margins amid cost pressures would remain a big concern for the local assemblers as their ability to pass on the cost effect will be tested, analyst Furqan Punjani said.
On yearly basis, the car sales have risen by 10 percent during the first four months of the current fiscal year 2010-2011 to stand at 41,941 units as compared to 37,922 units last year, PAMA data said. According to the latest numbers, the production however remained up by 18 percent during 4MFY11 to stand at 43,881 units as compared to 37,081 units in the corresponding period last year.
Other segment of the sector witnessed mix performances, as the sales and production of trucks remained depressed by 6 and 4 percent respectively. In buses segment, the case was worst as buses sales and production were down by 17 and 34 percent respectively.
However, LCVs, vans and jeeps witnessed positive movement as the sales and production increased by 8 and 15 percent respectively, the data shows. The sales of farm tractors remained up by 6 percent during the 4MFY11 however the production remained low by 4 percent during the said period.
Motorcycles and three wheelers segment did not performance up to the mark but the sales and production remained up by 10 and 9 percent respectively.
As per the latest PAMA release, auto sales (car, LCV & pickup) for 4MFY11 were up by 10 percent YoY to 47.4000 units, with car sales improving by 11 percent YoY to 41.9000 units. Increase in auto sales has been persistent across nearly all categories, except for the trucks & buses. On MoM basis, auto sales improved by 17 percent in Oct to 13.7000 units.
Daily Times - Leading News Resource of Pakistan
KARACHI: Car sales witnessed an increase of 17 percent in October10 to 13,704 units compared to 11,699 last month, recent data released by Pakistan Automotive Manufacturers Association said Thursday.
After remaining depressed in the last 2 months (August-September 2010), Indus Motor sales have rebounded. During October 2010, Indus motors sold 4,830 cars up 41 percent compared to 3,433 units in September 2010. This shows that the impact of floods on sales has started to fade out and thus sales are expected to improve once economy starts recovering particularly the agriculture sector. This was followed by Pak Suzuki as it sold 7,459 units versus 6,838 units in September 2010, up 9 percent.
Thus in 4MFY11, car sales improved by 10 percent to 47,391 units compared to 43,074 units in the same period last year. The major increase was seen in sales of Indus Motor as its sales grew by 11 percent to 16,622 units compared to 14,910 units last year. This was slightly better than Pak Suzuki whose sales increased by 10 percent to 25,279 units compared to 22,929 units in the same period last year.
Though sales are improving, analyst expect shrinking gross margins amid cost pressures would remain a big concern for the local assemblers as their ability to pass on the cost effect will be tested, analyst Furqan Punjani said.
On yearly basis, the car sales have risen by 10 percent during the first four months of the current fiscal year 2010-2011 to stand at 41,941 units as compared to 37,922 units last year, PAMA data said. According to the latest numbers, the production however remained up by 18 percent during 4MFY11 to stand at 43,881 units as compared to 37,081 units in the corresponding period last year.
Other segment of the sector witnessed mix performances, as the sales and production of trucks remained depressed by 6 and 4 percent respectively. In buses segment, the case was worst as buses sales and production were down by 17 and 34 percent respectively.
However, LCVs, vans and jeeps witnessed positive movement as the sales and production increased by 8 and 15 percent respectively, the data shows. The sales of farm tractors remained up by 6 percent during the 4MFY11 however the production remained low by 4 percent during the said period.
Motorcycles and three wheelers segment did not performance up to the mark but the sales and production remained up by 10 and 9 percent respectively.
As per the latest PAMA release, auto sales (car, LCV & pickup) for 4MFY11 were up by 10 percent YoY to 47.4000 units, with car sales improving by 11 percent YoY to 41.9000 units. Increase in auto sales has been persistent across nearly all categories, except for the trucks & buses. On MoM basis, auto sales improved by 17 percent in Oct to 13.7000 units.
Daily Times - Leading News Resource of Pakistan
