Demand for vehicles, ACs and refrigerators grows despite mounting inflation

demand despite inflation

According to the Bureau of Statistics, production and demand for vehicles, air conditioners and refrigerators have increased significantly despite mounting inflation.

During the first seven months of the financial year, production of vehicles and jeeps has increased by 65%. According to the statistics agency, production of light commercial vehicles, tractors, buses and trucks has also increased during this period.

In the first seven months of the current financial year, production of major industries increased by 3.9%. Automobile production in the country increased by 34.4% from July to January, while vehicle production increased by 25.4% in January 2022 alone.

Read more: Car sales surge by 71% to 114,765 units in six months of FY22

According to the Federal Bureau of Statistics, production of cars and jeeps increased by 64.7%. 1 lakh 33 thousand 791 cars and jeeps were manufactured in 7 months. This includes 125,598 cars and 8,193 jeeps.

Production of light commercial vehicles, tractors, trucks and buses also increased during this period. 32,585 tractors, 16,358 light commercial vehicles, 3414 trucks, 339 buses and more than 1.4 million motorcycles were manufactured. Production of motorcycles declined by 3.3% in seven months.

However, production of air conditioners, refrigerators, deep freezers and electric fans increased. Production of air conditioners increased by 44.7% in 7 months. From July to January, 312,973 air conditioners were manufactured. Production of refrigerators increased by 18% to 817,413.

Production of deep freezers increased by 16.4%, reaching 65,817. However, production of TV sets declined by 1.1%. The number was 123,421. Electric fan production increased by 18.2%. The volume was 14 lakh 67 thousand 449. Overall production of electronics products declined by 7.9% in 7 months.

Production of textiles, food, beverages, tobacco, pharmaceuticals, chemicals, iron, steel, leather products, paperboard, wood products also increased. Production of petroleum, fertilizer, electronics, engineering and rubber products also increased.

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