Automobile Sector likely to see 11% growth in sale of passenger cars during December

January 7, 2021 (MLN): The Automobile sector is set to witness yet another victory as the volumetric sales is likely to increase by 11% to around 13,380 units during the month of December, as compared to same month of last year.

This would take the cumulative sale for the first six months of the current Fiscal Year to 77,661 units, which is higher by 16% as compared to the corresponding period of last year.

According to a report by JS Global, Honda Cars is expected to see the maximum growth in its sales, 78% to be precise, followed by Indus Motor company whose sales are likely to increase by 72%. Pak Suzuki Motors, on the other hand, is expected to see a decline of 13% in its overall sales for the month.

As compared to the previous month, PSMC may see an increase in sales by 12% whereas HCAR and INDU might witness a decline of 20% and 19%, respectively.  

It is pertinent to note that most of the growth in sales mentioned above pertains to Passenger Cars and LCVs. Companies like Millat Tractors and Al-Ghazi Tractors are likely to experience a growth of 1.89x and  1.46x YoY, respectively.

This would take their cumulative sales for 1HFY21 to 15,463 units and 6,198 units, i.e. higher by nearly 68% and 5%, respectively.

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