Pakistan automobile sales decline 41% in August to 62-month low

KARACHI: Pakistan car sales continued its downward trend and witnessed a decline of 41% YoY during August 2019, which is mainly attributable to higher auto prices post rupee devaluation and overall economic slowdown.

Highest decline was witnessed in the sales of Honda Cars (Honda), which declined 67% YoY, followed by Indus Motors (Toyota) down 57% YoY and Pak Suzuki (PSMC), which was down 19% YoY for the month of August 2019.

Sales of Honda City and Honda Civic fell by 68% YoY amid significant increase in their prices. BR-V continues to underperform as its sales were down 58%.

Indus Motors has reported a decline of 57% YoY for August. The significant attrition in the volumes is mainly due to a 59% decline in its Corolla variant, which historically has shown exceptional performance and supported company’s overall volumes. Similary, Fortuner and Hilux sales declined by 57% and 41% YoY, respectively.

Pak Suzuki (PSMC) has recorded a 19% YoY decline in August. The decline in sales was led by Wagon-R, which is down 74% YoY mainly due to shift of customers interest towards Alto and upcoming Kia’s Variant Picanto.

Bolan & Ravi variants are down 69% and 67% YoY, respectively. Swift sales were down by 54% YoY compared to the same period last year.

Atlas Honda (ATLH) sales remained flat YoY at 80,104 units for August 2019.

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