Car Sales up 4%, Pak Suzuki hits the market
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Honda Civic 2022-the most anticipated car of the year-was launched on last Friday. Honda Atlas introduced the car in three variants i.e., Standard, Oriel and RS and one engine option
KARACHI: Pakistan car sales (including sales of Non-PAMA members) clocked in at 25,000 units, which is up 4 per cent MoM in February 2022. The increase in MoM sales is led by Pak Suzuki (PSMC) and Hyundai Nishat.
Honda Civic 2022-the most anticipated car of the year was launched last Friday. Honda Atlas introduced the car in three variants i.e., Standard, Oriel and RS, and one engine option.
Furthermore, the company had already revealed the prices of the car, which are Honda Civic Standard 1.5L Turbo M-CVT: Rs 5,099,000, Honda Civic Oriel 1.5L Turbo M-CVT, Rs 5,399,000, and Honda Civic RS 1.5L Turbo LL-CVT: Rs 6,149,000.
The partial booking payment of the first two variants is Rs 1,100,000 and for RS, it is Rs 1,200,000. Now, the only question that remains is its delivery time.
PSMC posted strong numbers registering an increase of 40% MoM led by increase in sales of Alto (+86% MoM) and Cultus (+44% MoM). The significant jump is due to ease of production issue compared to last month,” the analyst of the topline securities said.
Hyundai Nishat sold 1,469 units in February 2022, up significantly 2.4x MoM. Tuscon and Elantra sales were up by 5.7x and 2.9x to 774 units and 312 units respectively amid greater acceptability of the new entrants.
Honda Atlas Car (HCAR) and Indus Motors (INDU) posted a decline of 32 per cent MoM each during the month of February 22.
In eight months of the current fiscal year 2021-22, Pakistan auto sales went up 56% led by macro recovery and single-digit interest rates.
In Tractor space, Al-Ghazi Tractors (AGTL) recorded an increase of 5% MoM and 42% YoY while Millat Tractor’s (MTL) sales numbers are awaited.
Pakistan bike sales were down 11% MoM and 12% YoY in Feb-22. This takes 8MFY22 bike sales to 1.2mn units, down 3% YoY.
Trucks & Buses sales were down 30% MoM while up 66% YoY in Feb-22 led by increased transportation activity.
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