August Car Sales at 62 months low; down by 41pc YoY

Karachi, September 12, 2019: Pakistan car sales continued its downward trend and witnessed decline of 41 percent YoY during Aug 2019 which is mainly attributable to, higher auto prices post rupee devaluation, less no of working days amid Eid, overall economic slowdown.

The major contributor to industry decline was HCAR, down by 67 percent YoY, followed by INDU -57 percent YoY & PSMC  -19 percent YoY for the month of Aug-19.

Honda Cars (HCAR) sales fell 67 percent YoY during Aug-19, highest decline among its peers. Sales of City & Civic fell by 68 percent YoY amid significant increase in their prices. BR-V continues to underperform as its sales were down significantly by 58 percent YoY.

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

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

Alto recorded sales of 3,435 units down by 25 percent MoM as per our channel checks. However, its demand is expected to increase in upcoming months. Bolan & Ravi variants are down 69 percent & 67 percent YoY, respectively. Swift sales were down by 54 percent 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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