Daily Times

ISLAMABAD: The sale of local vehicles in the country has surged to 184,099 units during the first 10 months  of this year against  the 142,814 units sold in the same period last year, hence, registering a 29 percent growth. The improved law and order situation, low-interest rates, Punjab government’s taxi scheme among other economic factors have contributed to this growth.  Market statistics on Sunday showed  that Indus Motors sold 52,987 units during the year – a 1.15 percent Year on Year (YoY) increase. However, sales fell by 6 per cent to 5,483 in April 2016. The market leader Suzuki saw a 41 per cent YoY increase with 109,628 units sold in 2016, largely due to Punjab’s taxi scheme. However, due to less working days, sales declined to 18 percent in April. At 8,965 units, Month-to-Month (MoM) basis, sales volume dropped by 1 percent in April . An overall 5 percent decline in sales was recorded in April 2016 as compared to March 2016. With a sale volume of 21,292 in the year, Honda cars saw a 1.13 percent increase in sales during the current year. With a sale of 2,571 units in April – a 16 percent increase in YoY levels, it is still pertinent to note that Honda observed no change on MoM basis. In the anticipation of the upcoming Honda Civic model, the sales of current Civic models are further expected to slow down in coming months. Moreover, car sales in Pakistan have registered a healthy growth since last year.