Car sales drop by 44pc in first quarter of current fiscal year
Business
Drop also witnessed in the case of other categories barring tractors
KARACHI (Web Desk) – Amid the rising cost of living, Pakistan witnessed a 44 per cent decline in car sales during the first quarter of 2023-24 with 16,021 units against a total of 28,571 recorded in the same period in 2022-23 – the last fiscal year.
However, the period under review saw a month-on-month increase in September [6.410] and August [5,909] as the figures for the month of July stood at 3,702.
Meanwhile, a similar trend persisted in the case of trucks with a 47pc decline followed by 32pc in the case of buses and 10pc for bikes and three-wheelers.
The total sales of pickups and SUVs was recorded at 4,962 units compared to 6,431 units in the same period last year.
Similarly, the number of truck sold plunged by 47pc to 451 units from 852, while bus sales stood at 96 units as against 141, down by 32pc.
However, agriculture indicators appeared to have revived with a 64pc rise in tractor sales (Fiat and Massey Ferguson) to 12,090 units from 7,368 in 2022-23.
As for two-wheelers and three-wheelers, Honda sold 7pc less bikes to 232,139 during the first quarter FY24 as compared to 250,132 in the same period last year.
A 62pc fall was registered in Suzuki bikes to 3,775 from 10,007 while Yamaha bike sales faced 31pc decline to 2,555 from 3,736 during 1QFY23.
United Auto Motorcycle and Road Prince Motorcycle sold 21,803 and 4,118 units in July-Sept FY24 as compared to 20,369 and 9,273 in the same period last fiscal.
