July 12, 2019 (MLN): The sale of passenger cars during the year ended June 30, 2019 was recorded at 207.6 thousand units, as compared to 218.7 thousand units sold in last year, registering a decline of 5.06%.
Various research analysts have attributed this decline to economic slowdown, restrictions on non-filers to purchase new cars and increased car prices due to PKR devaluation.
Indus Motors Company emerged as the singular performer as it reported a 14.2% growth in sale of Toyota Corolla cars, with around 58.7 thousand units sold during the year, as compared to 51.4 units in last year. However, the other two variants of the company, i.e. Toyota Fortuner and Toyota Hilux reported a decline of 32.9% and 18.7% respectively.
The performance of Pak Suzuki Motors was mediocre as the sale of Suzuki Swift during the period totaled 5,050 units in comparison to 4,916 units last year, reporting a growth of 2.72%. Similarly, Wagon-R and Cultus performed well as they exhibited a growth of 11.6% and 11.1% respectively.
However, the remaining variants of the company, namely Mehran and Bolan, failed to catch up as their sales went down by 30.8% and 18.9% respectively. It is pertinent to mention that the company stopped production of Mehran in March this year, and replaced it by Suzuki Alto which recorded a sales figure of 1,685 in June 2019.
Honda Cars’ performance this year was below the mark, as the sale of Civic and City cars fell by 8.45%, whereas BR-V sales posted a decline of 41.9%. Unexpectedly, the sales of Honda bikes also plunged by 3.07%.
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