Auto sales up by 2 percent

The auto sales are up by 2 percent YoY in March 2019 led by higher sales from Pak Suzuki Motor Company (PSMC), according to Topline.
The auto sales clocked in at 185,000 units in 9MFY19, down by 4 percent YoY. This decline can be attributed to slowdown in economy & rise in recent car prices.
Indus Motors has reported 11 percent YoY decline during March 2019 mainly on account of lower sales of Fortuner & Hilux, which were down 63 percent and 65 percent, respectively, YoY. This was due to 10 percent Federal Excise Duty (FED) imposed on above 1700 CC engine cars. Corolla sales posted growth of 2 percent YoY.
PSMC has reported 23 percent YoY growth in sales led by growth in Wagon R with growth of 63 percent YoY. Other major contributors in overall growth were Cultus, Bolan and Ravi, up by 17 percent, 38 percent and 36 percent YoY, respectively. Swift was the only PSMC variant to record decline, down 16 percent YoY.
Honda cars (HCAR) sales fell 29 percent YoY in Mar 2019, steepest YoY decline during a month since May 2012. In addition to economic factors, decline in City and Civic variants is attributed to anticipation of a launch of new variant (Civic 1.5 Turbo new variant launched in April-19).