Car sales in Pakistan dropped by 41 percent this August

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Passenger car sales dropped from 17,977 units sold during the same period last year to 10,636 units.

Hike in prices, low business due to Eid Holidays, and rise in duties (taxes) are attributed as some of the reasons for the consistent decrease in the sales of automobiles.

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Photo courtesy Dawn.

Passenger car sales dropped from 17,977 units sold during the same period last year to 10,636 units in accordance with the data released by Pakistan Automotive Manufacturers Associations (PAMA). Hike in prices, low business due to Eid Holidays, and rise in duties (taxes) are attributed as some of the reasons for the consistent decrease in the sales of automobiles.

Another factor that is deemed responsible for parity in sales is the tough economic climate due to the existent trend of rupee depreciation against the dollar. Passenger car sales have reduced to 41 percent this August as compared to the sales in August 2018.

During the first two months of the current fiscal year, passenger car sales dropped by 31 percent to 27,108 units compared with the 39,354 units sold during the same period last year, The News International reported. August sales were down by 35 percent to 16,472 units compared to July.

Sales of Toyota Corolla decreased by 59 percent to 1,727 units against 4,204 units sold during August 2018 whereas the sales of Honda Civic and City plunged by 68 percent to 1,106 cars from 3,469 units compared with the same period last year.

Under 800cc cars, sales increased by 19 pc to 4,195 units against 3,531 cars in August 2018 and Alto sales also dropped by 21 percent in August as compared to its sales in July 2019. Suzuki’s Mehran witnessed a huge decline in sales by 83 percent to 389 units in comparison to 2,318 units sold during the same period last year.

Also See: FY2019-20: Car Sales Face A Sharp Decline Of 42pc In July

Not only cars but the sales of trucks, buses,  jeeps, and tractors also suffered a setback. The sales of trucks, buses, jeeps, and tractors reduced by 239, 42, 296, and 2,545 units during the corresponding period when compared with the units sold last year.

Apart from four-wheelers, the three and two-wheelers’ sales were also reduced when compared with the sales during the corresponding month of the year 2018. Suzuki motorbikes saw a decline to 1,548 bikes from 1,837 bikes sold during July 2018.

What do you think the major factor responsible for a consistent decrease in the sales of locomotives in Pakistan? Share your views in the comment section below

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