Sept car sales plunge 39pc YoY

RECORDER REPORT

KARACHI: The sales of locally-assembled cars witnessed a steep decline of 39 percent in September 2019.

The sales of locally-assembled cars dropped 39 percent in September on YoY basis. The company-wise breakup shows HCAR, INDU and PSMC sales dipped on YoY basis by 68 percent, 57 percent and 18 percent, respectively.

In addition, the sales under HCV category - truck, buses, jeeps, pickup and tractors also went down by 58 percent, 28 percent, 70 percent, 61 percent and 35 percent respectively. The car sales for 1QFY20 decreased 41 percent on YoY basis to 24,636 units as demand is shrinking in all variants.

Meanwhile, the tractors sales performed better during the month of September with sales clocking in at 3,761 units, up 48 percent on MoM basis but down by 35 percent on YoY basis.

The tractor sales have recorded a cumulative decline of 32 percent in September.