KARACHI: Car sales have increased by 27 per cent month-on-month (MoM) in Mar-2021—the highest since Mar-2019—taking nine months 2020-21 sales growth to 37 per cent year-in-year (YoY), said the data of Pakistan Automotive Manufacturers Association here on Tuesday. The same, including Lucky Motors Corporation (KIA, non-member of PAMA), is up by 20 per cent MoM—highest since Oct-2018—with July-Mar sales growth estimated at 46 per cent YoY.
Sales are up by 198 per cent YoY in March 2021. However, it should be considered that lockdowns began in March last year due to COVID-19.
Indus Motor Company (INDU) sales increased the most by 53 per cent MoM, as the company had witnessed supply issues in Feb-2021. Sales growth was primarily driven by Hilux sales, which were up by 103 per cent MoM.
Of the new entrants in the industry, Hyundai Nishat sold 723 units in March 2021, with the inclusion of Hyundai Elantra, while Lucky Motor Corporation sold 2,000 units, an analyst at Topline brokerage house said.
Atlas Honda (ATLH) recorded motorbike sales of 125,030 units in Mar-2021, up 20 per cent MoM. In July-March 2020-21, sales have increased by 25 per cent YoY. Tractor sales in Mar-2021 went up by 89 per cent YoY and 24 cent MoM. Millat Tractors (MTL) recorded an increase of 71 per cent YoY (+17 per cent MoM) while Al-Ghazi Tractors’ (AGTL) sales increased by 133 per cent YoY (+40 per cent MoM), respectively.