Car sales shrink due to economic slowdown and rupee devaluation
MG News | December 11, 2018 at 05:33 PM GMT+05:00
December 11, 2018 (MLN): In November 2018, 15,334 units of passenger cars were sold, show the latest figures released by Pakistan Automotive Manufacturers Association (PAMA).
Compared to prior month, the sales have dropped by 28%. One of the main reason for this could be the high base last month, when some of the manufacturers had forewarned that a potential price increase of up to Rs.75, 000 was in line for December and January. Due to this, the buyers indulged in pre-booking of cars, causing automobile sales to soar during the month.
On the other hand, in a year on year scenario the sales figure has dropped by 11% due to hiked up interest rates that made car financing expensive, soared car prices due to rupee devaluation and ban on purchase for non-filers.
However, cumulative sales for the July-November period have shown an increase of 624 units over corresponding period of last year, from a sale of 87,273 units to that of 87,897 units this year.
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 148,743.32 232.74M | 1.29% 1900.34 |
| ALLSHR | 89,074.97 432.50M | 1.26% 1107.38 |
| KSE30 | 45,031.60 99.89M | 1.35% 600.19 |
| KMI30 | 216,075.56 75.58M | 1.56% 3321.53 |
| KMIALLSHR | 58,342.49 204.46M | 1.47% 844.48 |
| BKTi | 40,694.56 42.04M | 1.52% 608.89 |
| OGTi | 31,278.90 11.43M | 2.01% 615.13 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 67,130.00 | 68,755.00 66,125.00 | 455.00 0.68% |
| BRENT CRUDE | 107.48 | 109.99 104.72 | 0.09 0.08% |
| RICHARDS BAY COAL MONTHLY | 112.50 | 0.00 0.00 | 0.95 0.85% |
| ROTTERDAM COAL MONTHLY | 119.00 | 119.50 118.75 | -2.90 -2.38% |
| USD RBD PALM OLEIN | 1,175.00 | 1,175.00 1,175.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 104.49 | 106.86 100.83 | 1.61 1.56% |
| SUGAR #11 WORLD | 15.56 | 15.59 15.12 | 0.01 0.06% |
Chart of the Day
Latest News
Top 5 things to watch in this week
SBP Interventions in Interbank FX Market
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|