Auto volumes tripled on YoY basis in March

Karachi, April 14, 2021: Car sales continued to recover as 20,813 units (including LCVs) were sold in March, which translates to YoY growth of 197percent. Cumulatively, growth in car sales now stands at 37percent YoY for 9MFY21 (134,718 units). Bear in mind that these numbers don’t reflect Kia sales, which have reportedly hovered between 2-2.5k per month since December.

Indus Motor Company (INDU) recorded its highest ever monthly volumes where high volumes of its variants seem to defy the existence of any new competition; however, this performance could also indicate capacity additions which led to higher production and sales.  Moreover, Pak Suzuki (PSMC) and Honda Atlas (HCAR) also posted strong growth, where the former showed monthly sales of over 10k for the first time in nearly 2 years.

In the trucks segment, Ghandhara Industries (GHNI) was the standout performer for March, with 217percent MoM growth recorded. As per the monthly PAMA volumes file, Isuzu truck (GHNI) sales included sales and production to armed forces.

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