Karachi, May 12, 2020: The lockdown due to COVID-19 imposed by the Federal and Provincial government in the later half of March 2020 till date has resulted in no car sales during April 2020, as reported by PAMA.
The lockdowns has resulted in closure of plants operations along with car dealerships across the country.
As a result, in 10MFY20 car sales have declined by 52 percent YoY. Honda Car (HCAR) sales are down by 64 percent YoY, followed by Indus Motors (INDU) and Pak Suzuki Motor Company (PSMC) with declines of 54 percent YoY and 47 percent YoY, respectively.
ATHL (motorbikes) too recorder nominal sales of 2,783units compared to pre- COVID sales of around 100K units.
Keeping in view the importance of the wheat harvesting season, the government allowed the tractor industry to resume their operations in mid-April 2020.
The tractor sales during March 2020 recorded a decline of 63 percent YoY and 30 percent MoM.
Al Ghazi Tractors (AGTL) reported an increase of 19 percent MoM in its sales, while Millat Tractors (MTL) sales declined by 51 percent MoM. Last month, MTL sales were up MoM (+2 percent) whereas AGTL recorded a MoM decline (-22 percent MoM).
According to the source, similar trend will be expected in May 2020 as restrictions are yet to ease for car Manufacturers and dealers.