Canada Global (Web News) According to data released by the Pakistan Automotive Manufacturers (PAMA), overall sales of cars, light commercial vehicles (LCVs), jeeps, and pickups decreased by 47% to 109,466 units during the first nine months of the current fiscal year (FY2022-23) from 205,452 units during the same period of fy2012-22.
The report also reveals that auto sales increased in March by 61 percent month over month to 9,351 units. When compared to the 27,202 units sold in March 2022, the March sales were 66 percent lower.
During the first nine months of the current fiscal year, plant closures, increased pricing, and expensive financing all contributed to a decline in auto sales.
The breakdown shows that truck sales decreased by 46% to 279 units in March from 521 units in February, whereas they were 500 units in March 2022. Truck sales as a result decreased 37% to 2,825 units in 9MFY23 from 4,493 units in 9MFY22.
Compared to 136 in February and 65 in March, only 29 buses were sold in March, a decrease of 79 percent and 55 percent year over year. Despite the slow monthly sales, the total number of buses sold in 9MFY23 increased by 22% to 557 from 458.
Tractor sales decreased by 49 percent to 21,233 units from 41,603 units in FY22. Sales of 2,984 units in March represented a fall of 10% month over month and 47% year over year.
Sales of two-wheelers as a whole totaled 908,555 units, a decrease of 33% from 1.348 million in 9MFY22. Bicycle sales in March totaled 83,149 units, a decrease of 17% month over month and 43% year over year.
1,158 units of three-wheelers were sold in March, which was a 54 percent and a 71 percent lower number than MoM and YoY. In contrast, overall sales of three-wheelers decreased by 48 percent in 9MFY23 to 16,148 units from 31,231 units in FY22.
Honda Atlas Cars Limited’s sales decreased to 835 units in March, a 49 percent MoM and 77 percent YoY decrease, while sales for 9MFY23 decreased by 46 percent to 16,278 units.
