Car sales jump by 59% MoM in December

January 11, 2022 (MLN): The sale of passenger cars witnessed an upsurge of 59.4% MoM during the month of December 2021, clocking in at 24,462 units as opposed to 15,351 units sold in November 2021 on the back of improvement in the supply chain, data from Pakistan Automotive Manufacturers Association (PAMA) showed Tuesday.

Meanwhile, on yearly basis, car sales saw a more than two-fold increase when compared to 11,247 units sold in December 2020.

This took 1HFY22 volumes to 114,765 units, recording robust growth of 71% YoY led by tax relief announced in the FY22 budget, the launch of new models, and pickup in overall economic activity, said Asad Ali, an analyst at Al- Habib Capital.

Auto sales increased by 91% YoY to 237, 443 units during CY21, the third-highest on a calendar year basis.

Going by the details made available by PAMA, the total production of passenger cars was recorded at 22,159 units in December 2021.

Surprisingly, during the month of December 2021, the 'below 1000 cc' category took a lead as auto sales were recorded at 10,235 units within this category. Segment-wise, Suzuki Alto recorded the highest sales at 9,195 units, followed by Suzuki Bolan that sold 1,040 units in the said month.

The second-highest number of sales was made within the '1300 cc and above' category at 9,955 units, up by around 23% MoM and 106% YoY. Within this category, Honda Cars (Civic and City) recorded the highest sales at 4,405 units, showing a rise of 59% MoM while Toyota Corolla registered sales of 3,180 units, up by 14% on a sequential basis.

This was followed by Toyota Yaris, Hyundai Elantra, Hyundai Sonata, Suzuki Swift and which sold 1,971, 228, 169, and 2 units, respectively.

The ‘1000cc' category took the third spot as its volumetric sales surged by 17% MoM and 49.4% YoY to stand at 4,272 units during the month under review. Within this category, Suzuki WagonR recorded the highest sales at 2,861units, depicting the growth of 44% on monthly basis, followed by Suzuki Cultus which sold 1,411 units (down by 14.5% MoM).

Company-wise, in the month of Dec, PSMC witnessed the highest sales of 15,503 units, up by 104% YoY and 82% MoM.

While Indus Motor (INDU) sold 6,214 units, showing an increase of 55% YoY while declining by 2% MoM.  Honda Cars  (HCAR) reported sales of 4,708 units during the said month, recording an increase of 167% YoY and 56% MoM.

Hyundai Nishat saw car sales of 762 units, up by 49% YoY and 2% MoM.

The total sale of trucks during the month stood at 299 units, down by 39% MoM. Isuzu emerged as the best-selling truck, with sales of around 160 units during the month, followed by MASTER with 63 units. HINO and JAC made sales of 55 units and 21 units, respectively.

The overall sale of buses was recorded at 355 units, which signifies a decrease of 37% as compared to the previous month. Within this segment, HINO made the maximum sales at 18 units while MASTER and ISUZU recorded sales of 14 and 4 units, respectively during December 2021.

Cumulatively, total sales of trucks and buses during the month clocked in at 335 units against the production of 484 units while sales of three-wheelers posted sales of 2,067 units.

According to the data, LCVs, Vans, and Jeeps observed sales of 2,869 units, down by 15% MoM during the period under review.

Copyright Mettis Link News

Posted on: 2022-01-11T17:36:50+05:00

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