In an interview with a private TV channel Mashood Khan who is an Auto Sector Analyst said that if the interest rate goes down to a single-digit number then the auto industry could do even better.
The Pakistan Automotive Manufacturers Association (PAMA) reported that truck and bus sales increased by 72% reaching 500 units and bus sales went up by 67% to 107 units. Sales of jeeps and pick-ups also went up by 64% to 5014 units. Motorbike and rickshaw sales, which are two and three wheelers, increased by 17% to 189227 units. However farm tractor sales went down by 38% with only 4130 units sold.
According to Topline Research Sazgar Engineering had the highest growth with sales up by 606% to 953 units compared to last year. Honda Atlas Cars also saw good growth selling 1148 units which is a 70% increase compared to last year and a 23% increase from the previous month. Indus Motor Company sold 2129 units which is a 38% increase from last year and a 28% increase from the previous month mainly due to strong sales of Corolla and Yaris cars.
However not all companies had positive results. Pakistan Suzuki Motors Company saw a 14% decrease in sales, selling 3653 units. Hyundai Nishat Motor had mixed results with a 12% increase from the previous month but a 24% decrease from last year. In motorcycles Atlas Honda sold 90500 units which is a 21% increase from last year and a 29% increase from the previous month.
