KARACHI: The automobile sales surged by 34 percent YoY during October 2020, supported by higher sales in all categories except buses which declined by 29 percent YoY.
According to Summit Capital, during October 2020, the car sales recorded an increase of 25 percent YoY, 1 percent MoM due to restoration of economic activities.
Among the car manufacturers, Indus Motor Company (IMC) leading the peers as its volume witnessed significant jump on account of higher sales in Hilux (111 percent YoY), Fortuner (137 percent YoY) and introduction of Yaris in the market, whereas, Honda Cars sales grew by 61 percent YoY. However, Pak Suzuki sales witnessed a fall of 13 percent YoY, as the customers switch to other brands in 1300cc or less categories. Furthermore, tractors sales rebound strongly by 57 percent YoY. The rise in volume is attributable to surge in agriculture activities.
Copyright Business Recorder, 2020
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