Car Sales Declined by 47% in First 9 Months of FY19-20

Local auto industry just got another jolt in form of coronavirus lockdowns as the sales of already troubled carmakers fell by another 47% in the first 9 months of this fiscal year.

According to the data released by Pakistan Automobile Manufacturers Association (PAMA), 97,664 units were sold during July-March FY20 compared to 185,023 units sold in the same period of the previous fiscal year.

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All 3 major auto assemblers witnessed a massive decline in sales with Honda Atlas remained as the major laggard with a 61% drop in sales to 14,061 units in the 9-month period of this fiscal year compared to 35,888 units in the same period of previous fiscal year. Indus Motor Company recorded a decline of 49% in sales to 25,300 units during July-March 2019-20. Sales of Pak Suzuki were also down by 41% to 58,303 units during the period under review.

March 2020 saw lowest monthly car sales after December 2008 amid enforcement of lockdown by provincial governments to contain the spread of coronavirus, which also resulted in closure of plants. On month-on-month basis, car sales fell by 43% while they witnessed a horrifying 70% decline on year-on-year basis.

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Sales of Pak Suzuki plunged 50% in March to 2,673 units compared to 5,377 units in February 2020. Pak Suzuki also recorded its lowest monthly sales since March 2009 with volumes declining by 81% year-on-year and 50% month-on-month. Four of Suzuki hatchbacks also witnessed their lowest ever sales in March 2020.

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Indus Motor Company recorded a 43% decline in its sales to 2,593 units in March compared to 4,510 in February. Sales of Honda Atlas decline by 27% in March with 1,564 units sold compared to 2,141 units sold in February.

Stats for the month of April 2020 are expected to be even more horrifying as local automakers are observing plant shutdowns in order to help stop the spread of coronavirus.

From: Tribune

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