Car sales witness 247 per cent growth in May 2021

Car sales in Pakistan have witnessed a steep growth of 247 per cent in May 2021, compared to the same period last year in May 202, when there was a lockdown due to covid-19.

As per the data released by the Pakistan Automotive Manufacturers Association (PAMA), a total of 15,696 units were sold by the automakers in May 2021 against 4,527 units in May 2020.

While on a month-on-month basis, auto sales have dropped by 9 per cent due to the impact of double digit inflation rate.

A JS Global report has revealed that the Pak Suzuki Motor Company (PSMC) has enjoyed a robust sales growth of 131 per cent year-on-year, recording total sales of 8,307 units in May 2021. “Alto contributed 41 per cent to the company’s unit sales,” said the report.

Car sales witness 247 per cent growth in May 2021

It added, “Sales of Indus Motor Company jumped by 755 per cent year-on-year to 4,676 units as all variants posted a strong recovery during the month. While Honda Atlas Cars (HCAR) experienced a six fold increase in volumes (2,001 units) during the month under review.”

Tractor sales in May 2021 also went up by 127 per cent year-on-year, while it declined by 6 per cent month-on-month.

On the hand, the sales of automobiles in the first 11 months (July-May) of the current fiscal year recorded a growth of 62 per cent. A total of 167,647 units were sold during this time period, against 103,209 units in the corresponding period of last year.

Hyundai, one of the new entrants in automobile sector, recorded a 1,772 per cent growth in sales. The company sold 5,186 units in the 11 month period compared to 277 units in the same period of last year.

It was followed by Indus Motor Company with a 104 per cent growth in sales at 52,701 units.