Auto Sector: INDU rides on the back of Yaris, Hyundai sees remarkable growth in Tucson’s sales

October 13, 2020 (MLN): The Automobile sector took another step towards a long impending victory during the month of September, as the latest numbers published by the Pakistan Automotive Manufacturers’ Association (PAMA) showed recovery in almost all the segments.

Most of the recovery in volumetric sales was led by Passenger cars, jeeps, trucks, buses, and motorcycles. Besides increasing demand, the surge in sales was due to the resumption of production and industrial activities, lower interest rates, higher remittances, and an increase in the incomes of farmers.

Indus Motor Company regained its position in the sector as the market leader yet again, for the company managed to raise its sales by a whopping 106% as compared to the same month of the last year. Evidently, the performance of Toyota Yaris led the company to where it is now, as it not only gave fierce competition to the ‘1300cc and above’ segment but also emerged as the clear-cut winner. The combined sales of Yaris and Corolla totaled 3,640 units, which is almost 103% YoY higher. Moreover, the sale of Hilux and Fortuner further contributed to the applaud-worthy performance of INDU.

Following the lead, Honda Cars witnessed a growth of 87% YoY in its sales as it sold 2,710 units during the month as compared to the 1,146 units sold in the same month of last year. The growth was led mostly by City and Civic, which saw an increase of 68% YoY in sales. BRV, too, added to the growth by depicting a 5.3x increase in sales.  

PSMC, on the other hand, failed to impress, unlike the last month, as it sold only 6,491 units i.e. 20% lower as compared to the same month of last year. The sales of the company have been heavily impacted by Alto’s performance, which has relentlessly failed to attract buyers, especially during the past few months. Suzuki Cultus only added to the company’s misery as it too depicted declines in yearly and monthly sales.

Hyundai Tucson, whose sales figures are still not registered with PAMA yet, witnessed a 90% increase in sales, as it sold 215 units in September as compared to the 22 united booked and sold in the previous month. The total sale made by the Hyundai company grew by a whopping 187% MoM.

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Posted on: 2020-10-13T16:14:00+05:00