Home News PKR rises 91 paisa against USD

PKR rises 91 paisa against USD

PKR rises 91 paisa against USD

April 12, 2022 (MLN): Passenger car sales rose 26% MoM in March 2022, clocking in at 22,799 units as opposed to 18,054 units sold in February 2022, monthly data from the Pakistan Automotive Manufacturers Association shows (PAMA). ) showed on Tuesday.

According to a research report from JS Global, this growth for the month was skewed toward higher-income autos, following subdued sales last month compared to the mid-income segment dominated by PSMC.

The key industry players namely INDU, PSMC and HCAR saw volumes surge as INDU witnessed the highest volumetric monthly improvement of 53% and sold 7,068 units in March 2022.

HCAR growth numbers also landed in the green zone with monthly sales of 3,651 units, an increase of 33% MoM, while PSMC sales were 15,011 units during the said period, representing an increase of 18% MoM.

Based on data made available by PAMA, total passenger car production in March 2022 was recorded at 22,898 units.

Year-on-year, vehicle sales increased 33% year-over-year compared to 17,105 units sold in March 2021.

This brought volumes of 9MFY22 to 172,612 units, with a robust 54% year-over-year growth due to the pick-up in general economic activity during the current fiscal year.

In the month of March 2022, the ‘under 1000 cc’ category took a lead as 11,109 cars were sold in this category. Segmentally, Suzuki Alto posted the highest sales at 9,814 units, followed by Suzuki Bolan, which sold 1,295 units in the said month.

The second highest number of sales was made in the ‘1300cc and above’ category, clocking in at 9,280 units, an increase of approximately 43% MoM and 10% YoY. Within this category, Toyota Corolla and Yaris had sales of 5,395 units, an increase of 48% on a sequential basis. Honda Cars (Civic and City) posted sales of 3,278 units, up 43% MoM.

This was followed by Hyundai Elantra and Hyundai Sonata, which sold 357 and 250 units respectively.

The ‘1000cc’ category took third place, with 2,410 units sold in March. In terms of growth, volumetric sales declined 28% MoM and 17% YoY. Within this category, the Suzuki WagonR had the highest sales with 2,104 units, followed by the Suzuki Cultus which sold 306 units.

Meanwhile, truck sales remained stable to 500 units in March 2022. Isuzu emerged as the best-selling truck, with sales of approximately 223 units during the month, followed by MASTER with 156 units. HINO and JAC sold 96 units and 25 units respectively.

While total bus sales increased 44% MoM to 65 units during the assessment month. Within this segment, Master achieved maximum sales with 39 units, while HINO and Isuzu booked 14 and 12 units respectively.

Cumulatively, the total sales of trucks and buses during the month were 565 units, compared to production of 554 units, while sales of two- and three-wheelers were recorded at 148,741 units.

According to the data, light commercial vehicles, vans and jeeps recorded sales of 4,332 units, up 20% MoM over the reporting period.

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