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Car Sales Declined Sharply in November 2018

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Sales of locally assembled vehicles fell sharply in November 2018 due to hike in prices and restrictions on purchase by non-filers of tax returns. Country’s weakening economic situation is also considered to be one of the reasons behind the plunge in sales.

Related: Newcomers Not Happy With Pak Suzuki Seeking Greenfield Incentives

According to the data released by the Pakistan Automotive Manufacturers Association (PAMA), sales of 800 to 1000cc cars declined 25% year-on-year and 37% month-on-month basis in November. Overall, automobile sales shrunk 17% year-on-year to 17,442 units in November 2018 whereas sales dropped 30% to 17,442 units on a month-on-month basis against 24,850 units in October.

Pak Suzuki, the only assembler of small cars in the country gets the worst affect. Its sales declined 37% to 8,511 units in November on a month-on-month basis from 13,346 units last month. Bear in mind, Pak Suzuki’s profit after tax also declined by 55% for the first nine months in year 2018.

Related: Pak Suzuki Posts 55% Decline in 9 Month Net Profit

Honda’s sales nosedived 23% to 3,452 in November against 4,456 units in the same period of last year. On monthly basis, Honda sales witnessed a downfall of 31% to 3,452 units from 5,005 units in October.

Indus Motor recorded a yearly decline of 7% in sales, which reached 5,479 units in November. On a month-on-month basis, its sales fell 15% to 5,479 units from 6,409 units in October. Toyota Corolla sales however, grew 9% year-on-year while sales of Hilux and Fortuner decreased 46% and 15%, respectively.

Below are the stats for the month of November 2018.

Toyota Corolla  4,957
Honda (Civic & City)  3,152
Suzuki Mehran  2,199
Suzuki WagonR  2,113
Suzuki Cultus  1,545
Suzuki Bolan  1,051
Honda BR-V  300
Toyota Fortuner  236
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