Pakistan records 31% rise in car sales in February 2021

Pakistan records 31% rise in car sales in February 2021

Pakistan records 31% rise in car sales in February 2021 

 

Passenger car sales raised by 31% in February 2021 as compared to the same time last year, because of little markups and start-of-year buying, as per the latest data showed on Thursday. 

According to Pakistan Automotive Manufacturers Association (Pama), passenger car sales increased to 13,570 units in February 2021 in contrast to 10,345 units sold in February 2020. But February sales lessened by 6.7% on a month-on-month comparison as 14,543 units were sold in January. 

The association observed an increase in the sale of jeeps, tractors, pickups, three-wheelers and motorcycles. 

An analyst commented that sales got a rise in January compared to February as customers prefer buying at the start of the year. He also added that numbers were smaller in February as it has fewer days. 

However, he predicted that sales would expect to increase in the coming months because of the low markup rules initiated by banks. 

According to data, the aggregate sales in the first eight months (July-February) of the present fiscal year stood at 95,139 units, seeing an increase of 20%. Whereas, car sales stood at 79,534 in the same period of the last fiscal year. 

In February 2021, sales of 1300cc and above cars increased by 6.0% and reached up to 6,114 units, whereas, 5,769 units sold in the same month a year back.  

The News reported that the boost can be ascribed to the increased sales of Toyota Yaris (2,566 units). On the other hand, sales of the Indus Motor’s popular Toyota Corolla remained on a downward trend by declining 68% to 1,177 units compared to 3,715 units sold in February 2020. 

The sale of Honda Civic and City increased by 17% to 2,192 against 1,868 units in the same period of 2020. Whereas, Suzuki Swift sales dropped to 179 cars from 186 cars sold last year. 

Sales of 1,000cc cars, Suzuki Cultus and Suzuki WagonR, slightly increased to 2,298 units compared to 2,234 in the corresponding period. 

Below 800cc car sales increased by 120% to 5,158 units in February against 2,342 units in the February 2020, led by Suzuki Alto, selling 4,245 units against 1,620 in the same month of 2020. Sales of buses and trucks dropped to 329 units in February from 402 in the last February. 

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Sales of jeeps increased to 119% to 1,058 units against 484 units during the same month last year as Toyota Fortuner sales raised by 30% to 275 units from 211 and Hyundai Tucson sales increased to 546 units.