Passenger car sales up in Nov; down 39pc in five months

KARACHI: Passenger car sales of Pakistan Automotive Manufacturers Association (PAMA) members increased slightly in November 2022 compared with November 2021, while five-month sales dropped by 39 percent, data showed on Friday.

On month-on-month basis, car sales climbed up 39 percent, with analysts expecting the numbers to improve further in the coming months with improved availability of raw materials for the car manufacturers after an increase in the issuance of letters of credit.

With exception to Suzuki’s Alto, sales of all other variants of cars, trucks, buses, tractors, jeeps, pick-ups and three-wheelers as well as two-wheelers witnessed a decline in November 2022 compared with November 2021.

Passenger car sales decreased by 39 percent in the first five months of FY23 to 55,144 units against 90,303 units sold in the same period last year. According to data released by PAMA, passenger car sales increased by 0.60 percent or 93 units to 15,444 units in November 22 compared with 15,351 units sold during the same month last year. November 2022 sales increased by 39 percent or 4,315 units compared with 11,129 units sold in October 2022.

During this period, sales of 1300cc and above cars were recorded at 5,831 units, down 28 percent compared with the same period last year, when 8,102 units were sold. In November 2022, 1000cc cars recorded sales of 1,854 units, (1,136 units of Suzuki Cultus and 718 units of Suzuki WagonR) against 3,641 units in the same month last year.

Below 1000cc vehicles recorded a sale of 7,759 units, higher by 115 percent or 4,150 units against 3,609 units last year. Suzuki’s new Alto saw remarkable sales of 7,255 units, higher by 282 percent to last year’s sales of 2,420 units.

Buses and trucks saw a decrease to 342 units in November 22 from 532 units in November 2021. The sale of jeeps and pick-ups decreased to 2,947 units from 3,363 units sold during the same period last year. Sales of tractors dropped to 1,240 units from 4,617 units during November last year. The sale of rickshaws and motorbikes decreased to 110,529 units in November 2022 against 166,731 units in the same period last year.

According to a report of Topline Securities, Pakistan car sales (including sales of Non-PAMA members) clocked in at around 20,000 units, up 35 percent MoM, primarily due to the availability of CKD parts which led to higher production in November 2022 as compared to October 2022.

Pak Suzuki reported increase of 55 percent MoM to 12,400 units in November 2022 followed by Honda Car’s increase of 38 percent MoM to 1,973 units in November 2022.