Pakistan’s auto-industry sees small growth despite curbing non-filers

The sale of cars increased to 51,221 units during the first quarter of this fiscal year, showing a meager increase of 581 units or 1.1 percent during the corresponding year last year.

The rise comes despite the non-filer of tax condition imposed by the government for purchase of cars. As per reports, auto experts expect rise in prices due to recent depreciation of rupee against dollar. The rupee plunged eight percent on Tuesday against the greenback after Pakistan announced that it would approach the International Monetary Fund (IMF) for a bailout package.

As per the Production and Sale data of vehicles released by Pakistan Automotive Manufacturers Association (PAMA), the sale of Honda’s Civic and City rose by 47pc YoY  (Year on Year) to 12,161 units, while BR-V sales continued the downward trend falling by 35pc YoY to 1,293 units.

Pak Suzuki Motor Company (PSMC) reported decline in volumes, with September 2018 sales down by five percent YoY. However, sales were up by 14 per cent MoM (Month on Month).

Suzuki’s Wagon-R and Swift led the growth chart in the month of September, up 61pc YoY and 41pc YoY, respectively. However, in the below 1000cc category the evergreen Mehran and Bolan suffered a decline as unit sales were dragged down by 37 per cent YoY and 23 per cent YoY, respectively.

Meanwhile, the sales in motorcycle and three-wheeler category declined by 14,925 units YoY with sales of 454,607 units in the first quarter of the current fiscal year.