Industry

Auto sales decline by 70pc YoY in Mar-2020

Karachi, April 13, 2020: Auto sales plunged by 70 percent YoY in Mar-2020 to 6,922 units, lowest monthly sales in over a decade, thanks mainly to production halts amid COVID-19.

Pak Suzuki (PSMC) posted an 81 percent YoY drop in volumes during the month, with Alto sales dropping to a record low 884 units and Wagon-R sales nose-diving by 90 percent YoY.

Honda Atlas Cars (HCAR, 59 percent YoY) and Indus Motor Company (INDU, down 50 percent YoY) also witnessed a massive drop in sales during the month.

Auto sales are expected to fare even worse in Apr-2020 considering that the production halt came into effect for less than half of Mar-2020.

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