No car sales recorded in April amidst COVID-19 lockdowns
No car sales recorded in April amidst COVID-19 lockdowns.
LAHORE (Dunya News) – The lockdowns due to COVID-19 imposed by the federal and provincial governments in the later half of Mar-2020 till date has resulted in no car sales during Apr-2020, as reported by PAMA.
The lockdowns have resulted in closure of plant operations along with car dealerships across the country.
As a result, in 10MFY20 car sales have declined by 52% YoY. Honda Car (HCAR) sales are down by 64% YoY, followed by Indus Motors (INDU) and Pak Suzuki Motor Company (PSMC) with declines of 54% YoY and 47% YoY, respectively.
ATLH (motorbikes) too recorded nominal sales of 2,783 units compared to pre-COVID sales of around 100k units.
Keeping in view the importance of the Wheat harvesting season, the governments allowed the tractor industry to resume their operations in mid-April-2020.
The tractor sales during Mar-2020 recorded a decline of 63% YoY and 30% MoM.
similar trend in May-2020 as restrictions are yet to ease for car manufacturers and dealers.
