July 12, 2019 (MLN): Restriction on non-filers customers to buy vehicles, devaluation in PKR against USD, rise in interest rates to 12.25%, effects of economic slowdown and multiple rise in vehicle prices by the industry player in FY19 have caused a decline in the sales volumes of Auto industry by forcing customers to withhold auto buying decision. Thus, the industry sales volume declined by 9% YoY to 2.06 million units from FY18 sales.
According to the figures released by Pakistan Auto Manufacturers Association (PAMA), the segment-wise sales performance of the industry particularly in Trucks and buses have recorded a decline of 33% YoY in FY19 to 6,763 units against the sales of 1,0093 units in FY18.
Separately, Trucks sales arrived 38%YoY lower at 5,828 units whereas sales of buses improved by 23%YoY to 935 units during FY19.
Hinopak’s truck sales plunged by 53% YoY in FY19 to 1,808 units from 3,874 units in last fiscal year, while the bus sales jumped to 32% YoY to stand at 442 units in FY19.
Similarly, Isuzu’s truck sales fell to 2,801 units in FY19, from 3,878 units in FY18, showing a decline of 28%, while the bus sales surged to 219 units as against 122 units in FY18, marking a growth of 80%.
On the other hand, Master’s truck sales declined by 22% YoY to 1,219 units in FY19 compared to 1,561 units in FY18, followed by a meagre fall in bus sales to 274 units in FY19 from 306 units in last fiscal year.
To summarize, in truck segment, Isuzu outperformed its Japanese counterpart Hinopak, whereas, in bus segment Hinopak appeared as top seller in FY19.
