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Car sales jump by 26% MoM in March

April 12, 2022 (MLN): The sale of passenger cars witnessed an upsurge of 26% MoM during March 2022, clocking in at 22,799 units as opposed to 18,054 units sold in February 2022, the monthly data from the Pakistan Automotive Manufacturers Association (PAMA) showed on Tuesday.

This growth for the month was skewed towards the higher-income segment cars after subdued sales last month as compared to the middle-income segment which is dominated by PSMC, according to a research report by JS Global.

The major industry players i.e, INDU, PSMC and HCAR experienced a surge in volumes as INDU witnessed the highest volumetric monthly improvement of 53% and sold 7,068 units in March 2022.

HCAR growth numbers also landed in the green zone with monthly sales of 3,651 units, up by 33% MoM while the sales of PSMC during the said period stood at 15,011 units, depicting an increase of 18% MoM.

Going by the details made available by PAMA, the total production of passenger cars was recorded at 22,898 units in March 2022.

On a yearly basis, car sales saw an upsurge of 33% YoY when compared to 17,105 units sold in March 2021.

This took 9MFY22 volumes to 172,612 units, recording robust growth of 54% YoY driven by the pickup in overall economic activity during the ongoing fiscal year.

During the month of March 2022, the 'below 1000 cc' category took a lead as auto sales were recorded at 11,109 units within this category. Segment-wise, Suzuki Alto recorded the highest sales at 9,814 units, followed by Suzuki Bolan which sold 1,295 units in the said month.

The second-highest number of sales was made within the '1300 cc and above' category, clocking in at 9,280 units, up by around 43% MoM and 10% YoY. Within this category, Toyota Corolla and Yaris registered sales of 5,395 units, showing an increase of 48% on a sequential basis. Honda Cars (Civic and City) recorded sales at 3,278 units, which jumped by 43% MoM.

This was followed by Hyundai Elantra and Hyundai Sonata which sold 357 and 250 units, respectively.

The ‘1000cc' category took the third spot as the units sold during the month of March were 2,410. In terms of growth, the volumetric sales declined by 28% MoM and 17% YoY. Within this category, Suzuki WagonR recorded the highest sales at 2,104 units, followed by Suzuki Cultus which sold 306 units.

Meanwhile, the sales of trucks remained stable in March 2022 to stand at 500 units. Isuzu emerged as the best-selling truck, with sales of around 223 units during the month, followed by MASTER with 156 units. HINO and JAC made sales of 96 units and 25 units, respectively.

While the overall sale of buses increased by 44% MoM during the review month to clock in at 65 units. Within this segment, Master made the maximum sales at 39 units while HINO and Isuzu recorded sales of 14 and 12 units, respectively.

Cumulatively, total sales of trucks and buses during the month clocked in at 565 units against the production of 554 units while sales of two and three-wheelers were recorded at 148,741 units.

According to the data, LCVs, Vans, and Jeeps observed sales of 4,332 units, showing a growth of 20% MoM during the period under review.

Copyright Mettis Link News

 

Posted on: 2022-04-12T15:41:00+05:00

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