Pakistan's auto sales drop 18% in March

Pakistan’s automobile sales amounted to 11,098 units in March, marking an 18% decline compared to the same period last year.

The cumulative sales for the first nine months of the fiscal year stood at 100,868 units, reflecting a 46% year-on-year increase, according to official data issued on Thursday.

An analyst at Arif Habib Limited attributed the decline in auto sales in March to subdued business activity during the month of Ramadan.

“The increase in cumulative auto sales is driven by factors such as a decline in interest rates, making auto financing more affordable, and the introduction of new car models.”

Indus Motors Company reported a 20% sequential increase in volumetric sales for March, totaling 3,131 units. This rise was primarily driven by a 31% increase in sales of Corolla and Yaris, which reached 2,378 units, while Fortuner and Hilux sales declined by 5% to 753 units.

Honda Atlas Cars witnessed a 30% decline, with sales falling to 1,428 units. Sales of Honda BR-V/HR-V dropped 31% to 233 units, while Civic/City sales decreased 36%, totaling 1,195 units.

Moreover, Pak Suzuki reported a 20% decline, with sales recorded at 4,185 units. The steepest drops were seen in Wagon R, Cultus, and Ravi, with sales plunging 53%, 66%, and 42%, respectively.

Additionally, sales of Swift, Alto, and Bolan declined 8%, 13%, and 11%, while Every sales surged by 221%.

Sazgar Engineering Works Ltd (SAZEW) reported total sales of 940 units of Haval in March, compared to 877 units sold in February.

Two-wheeler sales volumes remained unchanged in March, with Atlas Honda (ATLH) reporting 106,203 units sold, reflecting a 2% sequential decline.

Tractor sales also remained steady, at 1,538 units. MTL sales saw a 17% decline, reaching 937 units, while AGTL sales surged by 47%, totaling 601 units.