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In the first four months of FY22, auto sales increased significantly

KARACHI: The first four months of the current fiscal year proved to be another watershed moment for the auto industry, with sales of jeeps increasing by 104 percent, pick-up vans by 93 percent, automobiles by 71 percent, trucks by 82 percent, agricultural tractors by 14 percent, and two-wheelers by 0.5 percent.

Despite the regular price hikes, Atlas Honda Limited set a new sales record in October, selling 125,031 units, up from 125,030 in March. The Pakistan Automotive Manufacturers presented data that showed a 1% reduction in bus sales.

Also read: Pakistan’s budget deficit decreased in the first quarter of FY22

Despite a minor drop in October sales to 17,413 units from 18,971 in September, potential buyers purchased 74,952 automobiles in 4MFY22, compared to 43,865 in the same time the previous fiscal year, owing to inexpensive bank car financing.

Suzuki Cultus outperformed all competitors with an 181 percent increase in sales to 11,454 units from 4,079 units in 4MFY21, while Toyota Corolla came in second with a 102 percent increase to 9,937 units from 4,928 units. The 660cc Suzuki Alto was the third best-selling automobile, with a 97 percent increase in sales to 20,773 from 10,544 units.

Observers predict further increase in prices

Suzuki WagonR sales grew by a whopping 85pc to 6,779 from 3,658 units. The decades-old Bolan sales surged by 65pc to 4,012 units from 2,438, while the combined sales of Honda Civic/City went up by 25pc to 10,444 from 8,341 units. The sales of Toyota Yaris rose by 2pc to 9,277 from 9,067 units, while those of the newcomer Hyundai Elantra from July to October stood at 1,036 units.

The rising movement of goods (import and export) can be justified by the high sales of trucks to 2,011 units in 4MFY22 from 1,104 units in the same period last year. Hinopak sales recovered to 305 units from 181 followed by a massive jump in Master truck sales to 691 from 295 units. Isuzu and JAC truck sales stood higher with 940 and 75 units in the four months of FY22 from 568 and 60 units, respectively.

Bus sales went down 1pc to 184 units from 186 units in which Hino fell to 51 from 72 units, while Master and Isuzu bus sales increased to 103 and 30 units from 87 and 27 units, respectively.

The well-to-do customers appeared to have taken a liking for jeeps as their overall sales swelled to 4,901 from 2,401 units in 4MFY21. Toyota Fortuner, Tucson and Honda BR-V sales hit 2,473, 1,042 and 1,386 units from 629, 448 and 1,324 units, respectively.

Total pick-up van sales jumped to 10,038 from 5,199 units in which sales of Suzuki Ravi and Toyota Hilux rose by 157pc and 50pc to 5,171 and 3,856 in 4MFY22 from 2,010 and 2,572 units in the same period last year.

JAC, D-Max and Hyundai Porter sales went up to 318, 155 and 538 units from 166, 118 and 333 units, respectively.

Also read: Imports rise by 103 percent in 4MFY22, increasing the trade imbalance

Improving agriculture indicators were reflected in the rising sales of tractors: Fiat and Massey Ferguson sold 6,686 and 10,700 units in the four months of FY22 as compared to 4,950 and 10,232 units in the same period last year.

Japanese motorcycle assemblers continued to enjoy good business as Suzuki and Yamaha sales soared to 11,661 and 8,098 units as compared to 6,628 and 6,823 units in 4MFY21. Chinese bike assemblers remained under pressure as sales of Road Prince and United Auto Motorcycle plunged to 43,940 and 115,474 units from 51,099 and 134,120 units.

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