Except for a small drop in heavy vehicle sales, the overall auto sector grew by 31.5 percent in the first nine months of the current fiscal year (9MFY21).
Jeep sales increased by 157.6 percent in 9MFY21, followed by light commercial vehicles/pickups, which increased by 41.4 percent, tractors, which increased by 57.2 percent, and two/three-wheelers, which increased by 22 percent.
Atlas Honda Limited (AHL) set new production and sales records for two-wheelers in March 2021, with 125,442 and 125,030 units, respectively, compared to 116,024 and 116,000 units in October 2020.
Honda’s total bike sales in 9MFY21 were 961,076 units, up from 768,974 units in 9MFY20.
During 9MFY21, a total of 112,244 locally assembled cars were delivered, compared to 85,330 units during the same period the previous fiscal year.
March 2021 ended on a high note as well, with car sales jumping to 17,105 units from 13,570 units in February 2021. Due to a countrywide lockdown imposed in the third week that was extended to April 2020, sales in March 2020 were 5,796 units.
Read more: Auto import bill rises by 194 percent in the first half of FY21
High car prices haven’t dampened buyers’ spirits, as they appear to be more drawn to low auto-financing interest rates. Despite the rupee’s strengthening against the dollar from August 2020, when one dollar was quoted at Rs 168.40, compared to the current rate of Rs 153-154, assemblers have not passed on the low cost of importing parts and accessories to consumers.
Industry executives, on the other hand, continued to express their concerns about high raw material prices on the global market, high freight costs, and problems with port congestion in various countries.
As per the Pakistan Auto Manufacturers Association (PAMA), the Suzuki Alto 660cc saw a meager sales recovery to 29,038 units in 9MFY21 from 27,956 units in the same timeframe in FY20, after a steep climb for the last few months. Sales of Alto increased to 4,745 units in March 2021, up from 4,245 units in February 2021.
Sales of the Honda Civic/City increased to 18,816 units from 11,989 units, while sales of the Suzuki Swift increased to 1,896 units from 1,548 units.
Toyota Corolla sales fell to 13,255 units in 9MFY21 from 20,991 units the previous fiscal year, as the Toyota Yaris, seen a surged in sales which sold 21,720 units.
Sales of the Suzuki Cultus and Bolan increased to 12,108 and 6,498 units in 9MFY21, respectively, from 10,555 and 4,467 units in the previous fiscal year. In 9MFY21, a total of 8,867 WagonR units were sold, compared to 6,122 units in the same timeframe in FY20.
According to PAMA data, the Hyundai Elantra is a new entrant in the 1,300cc and above category, with production and sales of 248 and 36 units in March 2021.
Honda BR-V, Suzuki Ravi, and Toyota Hilux sales increased to 2,882, 7,606, and 5,246 units, respectively, from 2,089, 5,953, and 3,238 units in the last nine months of FY21.
Newcomer Hyundai Tucson, sold 2,759 units from August 2020 to March 2021, significantly outnumbering the Toyota Fortuner, which sold 2,449 units in the same timeframe last fiscal year versus 1,071 units.
During July-February 2020-21, sales of the Hyundai Porter, which began production in December 2019, totaled 848 units.
In farming equipment, Massey Ferguson and Fiat sold 25,927 and 10,999 tractors, respectively, in 9MFY21, compared to 14,611 and 8,733 units in FY20.
United Auto Motorcycle and Road Prince bike sales increased to 286,899 and 111,570 units in the last nine months of the current fiscal year, respectively, from 242,387 and 91,595 units in the previous fiscal year.
Suzuki sales increased to 17,363 from 15,637, while Yamaha sales decreased to 16,597 from 18,142.
Qingqi, Sazgar, Road Prince, and United sold 14,646, 11,790, 7,498 and 5,556 three-wheelers, respectively, compared to 10,577, 9,500, 7,837, and 4,751 units.
Hinopak was among the losers, with truck and bus sales plummeting to 533 and 157 units, respectively, from 988 and 250 units in 9MFY20.
Sales of Master trucks and buses, on the other hand, increased dramatically from 367 to 265 units.
Sales of Isuzu trucks and buses fell to 1,334 and 92 units, respectively, from 1,345 and 117 units.
As a whole truck sales decreased to 2,700 units in 9MFY21 from 2,723 units in 9MFY20, while total bus sales decreased to 514 units from 532 units in 9MFY20.