Car Sales Fall To 56% In Last Month

Automobiles have gone furiously down to 56% this October because of the rupee depreciation at its peak and auto financing higher interest rates. The recorded data by the three major market players has shown an immense decline year-by-year. However, October 2019 has seen the major decline since March 2009. Pakistan Automative Manufacturers Association (PAMA) recorded […] The post Car Sales Fall To 56% In Last Month appeared first on Nation Bytes.

Jul 22, 2020 - 16:59 Updated: Jul 22, 2020 - 16:59
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Car Sales Fall To 56% In Last Month

Automobiles have gone furiously down to 56% this October because of the rupee depreciation at its peak and auto financing higher interest rates. The recorded data by the three major market players has shown an immense decline year-by-year. However, October 2019 has seen the major decline since March 2009.

Pakistan Automative Manufacturers Association (PAMA) recorded the sales of auto at 10, 853 units in October 2019 whereas the sales recorded for October 2018 are 24, 850 units.

The sales of Suzuki Motors had a major drop of 61% in sales to 2,496 units only in October 2019.

READ MORE: Indus Motors Will Not Produce Vehicle In September

The analyst identified the reason by adding, 

"The decline in sales was led by Wagon-R and Cultus, whose sales were down 84% and 51% respectively, due to a recent shift in customer interest towards Alto and newly launched Picanto by Kia-Lucky Motors,”

Pak Suzuki also faced a major drop of 15% in sales.

The post Car Sales Fall To 56% In Last Month appeared first on Nation Bytes.