Pakistan's car sales up 10% in 1Q of 2010/11 fiscal year

Cars and light commercial vehicles (LCVs) sales in Pakistan increased by 10 percent to 33, 496 units during the first quarter of fiscal year 2010/11 (from July to Sept. 2010), local media reported on Wednesday.

Interestingly, despite the turbulent quarter for manufacturing concern as both security issues and flood devastation restricted their business operation, car sales grew to 33,496 units compared to 30,519 units during the similar period in the last year.

According to the latest data released by Pakistan Automotive Manufacturers Association (PAMA), despite fewer working days due to Eid holidays in the month of September, cars and LCVs' sales increased by six percent month-on-month to 11,663 units.

"The growth is not encouraging as September sales are still 7 percent lower than average monthly sales in 2010 year-to-date (YTD) ," said the report.

"Thanks to two major companies Indus Motors and Pak Suzuki that managed to sell 11,792 units and 17,820 units, up 13 percent and 8 percent, respectively," said Furqan Punjani, an auto market analyst.

Other segments of the auto sector did not present a bright picture during the first quarter, as trucks sales during the said period remained down by two percent to stand at 725 units as compared to 744 units in the same period of last year.

Similarly, sales and production of buses remained down by 16 percent and 28 percent respectively while farm tractors sales remained up by 9.78 percent to stand at 13,931 units as compared to 12,690 units last year.

Motorcycles and three-wheelers produced better numbers as sales and production remained up by 14 percent each respectively.

Source: Xinhua