KARACHI: The auto sector within the first seven months of the present fiscal yr (7MFY21) registered brisk development, posting a rise of 18 per cent in automotive gross sales, 137pc in jeeps, 32pc in pickups, 12pc in Fiat and 84pc in Massey Ferguson tractors and 18pc in two- or three-wheelers. The one exception had been heavy autos which posted destructive gross sales.
In accordance with knowledge launched by the Pakistan Automotive Producers Affiliation (PAMA), whole automotive gross sales stood at 81,569 items in 7MFY21 versus 69,189 items in the identical interval final fiscal. Automotive gross sales in Jan 2021 gross sales elevated to 14,543 items as in comparison with 10,095 items in Jan 2020.
Honda Civic and Metropolis emerged as one of the best promoting autos, rising by 59pc to 14,021 items and inflicting an total 63pc development in 1,300cc and above phase gross sales amid 34pc drop in Toyota Corolla gross sales to 9,952 items. Suzuki Swift gross sales crawled up by six per cent to 1,362 items through the 7MFY21. Yaris gross sales closed at 15,837 items.
With a cumulative bounce of 18pc in 1,000cc phase, Suzuki WagonR and Suzuki Cultus gross sales grew by 8pc and 33pc to eight,987 and 6,794 items.
The under 1,000cc phase marked a decline of 19pc attributable to 21pc fall in Suzuki Alto 660cc gross sales to twenty,048 items whereas Suzuki Bolan gross sales surged by 36pc to 4,568 items.
In accordance with Syed Fawad Bashir of Prime Line Securities, Fortunate Motor Company, the maker of KIA autos, managed to promote 2,500 items in Jan 2021 alone. Fortunate auto gross sales clocked in at Rs44bn in 1HFY21 (36pc of whole revenues) as in comparison with Rs12bn in 1HFY20. A brand new entrant, Hyundai Nishat, offered 1,600 items from Aug 2020 until Jan 2021.
He mentioned automotive demand would go stronger owing to low rates of interest and pickup in financial actions.
Taha Madani of BMA Capital mentioned the auto sector is predicted to stay upbeat in second half of the present fiscal yr with whole gross sales of vehicles, mild industrial autos (LCVs) and sports activities utility autos (SUVs) reaching as excessive as 166,000 items, up 49pc year-on-year.
Whole truck gross sales dropped by 7.5pc to 1,940 items wherein Hino suffered a fall of 49pc to 413 items adopted by 7pc drop in Isuzu gross sales to 912 items. Grasp and JAC truck gross sales soared to 488 and 127 items from 278 and 20 items in 7FY20.
Out of 12.7pc drop in total bus gross sales to 370 items, Hino gross sales remained 41pc much less with 113 items in 7MFY21 whereas Isuzu gross sales additionally remained depressed by 22pc with 85 items. Grasp bus gross sales swelled by 40pc to 172 items.
In LCVs, vans and jeeps, a complete of 1,666 and a couple of,095 items of Toyota Fortuner and Honda BR-V had been offered versus 702 and 1,559 items, up by 137pc and 34pc respectively. Suzuki Ravi, Toyota Hilux and JAC gross sales had been 5,190, 4,136 and 363 items in 7MFY21, up by three per cent, 79pc and 29pc respectively. D-Max gross sales plunged by 44pc to 171 items. New comer Hyundai Porter, which began its manufacturing in December 2019, offered 679 items throughout July-Jan 2020-21 as in comparison with 70 items in similar interval 2019-20.
Total agriculture indicators appeared to have proven enchancment in view of rising tractor gross sales of Fiat and Massey Ferguson to 7,545 and 19,400 items, up by 12pc and 84pc in comparison with 7MFY20.
Honda offered 20pc extra bikes to 732,041 items whereas Suzuki gross sales confirmed no development with 12,682 items as in comparison with 12,741 items. Yamaha gross sales fell by 15pc to 12,654 items.
United Auto Motorbike and Highway Prince bike gross sales stood at 230,370 and 89,855 items, exhibiting a gross sales development of 18pc and 21pc whereas Ravi bike gross sales plummeted by 54pc to 4,728 items.
In three wheelers class, Qingqi, Sazgar, Highway Prince and United gross sales stood at 11,553, 9,028, 6,030 and 4,465 items in 7MFY21, registering an increase of 48pc, 23pc, 10pc and 20pc from the identical interval final fiscal.
Revealed in Daybreak, February twelfth, 2021