February 11, 2022 (MLN): The sale of passenger cars witnessed a slash of 30.6% MoM during January 2022, clocking in at 16,985 units as opposed to 24,471 units sold in December 2021 on the back of a hike in prices due to an increase in taxes announced in the Mini Budget and higher raw material cost, data from Pakistan Automotive Manufacturers Association (PAMA) showed on Friday.
However, on yearly basis, car sales saw an increase of 17% YoY when compared to 14,543 units sold in January 2021.
This took 7MFY22 volumes to 131,759 units, recording robust growth of 61.53% YoY led by the launch of new models, and pickup in overall economic activity during the ongoing fiscal year.
Going by the details made available by PAMA, the total production of passenger cars was recorded at 18356 units in January 2022.
'1300 cc and above' category took a lead as auto sales were recorded at 9,456 units within this category, showing an increase of 36% YoY and a drop of 5% on monthly basis. Segment-wise, Toyota Corolla and Yaris registered sales of 5,528 units, up by 7.31% on a sequential basis. Honda Cars (Civic and City) recorded the highest sales at 3,646 units, which declined by 17.23% MoM.
This was followed by Hyundai Sonata and Hyundai Elantra which sold 172 and 109 units, respectively.
The second-highest number of sales was made within the 'below 1000 cc' category as its sales were recorded at 4,820 units, plunged by 52% MoM. Segment-wise, Suzuki Alto recorded the highest sales at 3,864 units, followed by Suzuki Bolan which sold 956 units in the said month.
The sales of the ‘1000cc' category have tumbled by 36.6% MoM and 2.7% YoY as it clocked in at 2,709 units in January 2022. Within this category, Suzuki WagonR recorded the highest sales at 1,537units, depicting the decline of 46% on monthly basis, followed by Suzuki Cultus which sold 1,172 units (down by 16.93% MoM).
Company-wise, PSMC witnessed the highest sales of 9,037 units, down by 42% MoM. While Indus Motor (INDU) sold 6,797 units, showing an increase of 25% YoY and 2% MoM.
Honda Cars (HCAR) reported sales of 4,064 units during the said month, recording an increase of 66% YoY and while on monthly basis, the sales of HCAR dropped by 14% MoM.
Hyundai Nishat saw car sales of 612 units, up by 12% YoY whereas the sales moved down by 20% MoM when compared to the sales in December 2021, as reported by Sherman Securities.
On the other hand, the sales of trucks witnessed a twofold surge in January 2022 to stand at 690 units, compared to the 299 units sold in the previous month. Isuzu emerged as the best-selling truck, with sales of around 387 units during the month, followed by MASTER with 149 units. HINO and JAC made sales of 92 units and 62 units, respectively.
Similarly, the overall sale of buses also jumped by 2.4x during the review month to clock in at 88 units. Within this segment, Master made the maximum sales at 56 units while ISUZU and HINO recorded sales of 18 and 14 units, respectively.
Cumulatively, total sales of trucks and buses during the month clocked in at 778 units against the production of 710 units while sales of two and three-wheelers posted sales of 153,440 units.
According to the data, LCVs, Vans, and Jeeps observed sales of 3,625 units, up by 26% MoM during the period under review.
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