The sales of vehicles in the country during July to March of the current fiscal year were down 6 percent to 153,557 units mainly because of drop in Suzuki and Toyota car sales.
“People are anxiously waiting for new models from Suzuki and Toyota units, while they encouraged by Honda Motors, which registered sharp growth during July to March period”, said an analyst.
Suzuki car sales dropped by 16 percent to 84743 units during July 2016 to March 2017, while Toyota sales declined by 6 percent to 40,694 units of the same period last year. However, Honda cars sales accelerated by 52 percent to 28120 units during July 2016- March 2017 as compared to preceding year.
The sales of tractors however geared sharply 74 percent to 38,534 units of the nine months ended March 31, 2017. The sales rose due to reduction in the sales tax during the budget announced last June and also the package announced by the government to accelerate farm growth.
Moreover, trucks sales also registered handsome increase of 42 percent to 5321 units. The rise in truck sales indicates increased economic activity in the country especially under the umbrella of China Pakistan Economic Corridor. Chinese investment arriving at infrastructure sector building roads, flyer over and work at Gwadar port accelerated the sale of trucks.