Car Sales Increased by 57% in FY2021

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Car sales increased by 57% to 151,182 units during the last fiscal year of 2020-21, according to the data released by Pakistan Automobile Manufacturers Association (PAMA). The growth is mainly attributed to subdued demand in the previous pandemic-struck year when sales of PAMA member companies stood at 96,455 units in FY19-20. (Note that automakers including FAW, Changan, Kia, United and Regal are not members of PAMA and their sales data isn’t reflected in PAMA charts).

Related: Car Prices Reduced Amid Tax Cuts

Assemblers rolled out 18,154 units in June 2021 but sales stood at only 11,569 units in the month as buyers preferred to take the delivery of vehicles in July (first month of FY22) owing to expectation of a price cut on account of reduction in federal excise duty and general sales tax, as announced in the new Auto Policy 2021-26.

11,569 cars sold in June 2021 stands higher when compared to 7,325 units sold in the same month a year earlier. However, on a month-on-month basis, sales remained below 12,934 units recorded in May 2021.

Related: New Auto Policy 2021-26 Announced

Sales of 1,300cc and above car in FY20-21 were recorded at 75,097 units, up 91% when compared with the previous year’s sales of 39,386 units. In June, 7,042 units of 1,300cc and above cars were sold, including 2,826 units of Honda Civic and City, 208 units of Suzuki Swift, 1,862 units of Toyota Corolla, 1,876 units of Toyota Yaris and 270 units of Hyundai Elantra.

Sales of 1,000cc cars witnessed an increase of 56% to 30,169 units in FY2021 from 19,291 units in FY2020. In June, 3,124 cars of 1,000cc were sold compared to 1,306 units in June last year. Below 1,000cc cars sales were recorded at 45,916 units from 37,778 units sold last year. In June, 1,403 cars were sold, down from 1,963 units of June last year.

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