Suzuki Suffers Huge Loss as Auto Industry’s Car Sales Drop by 39%

Recently published data by Pakistan Automotive Manufacturers Association (PAMA) has revealed that car sales in the country have plunged 39% in February 2020.

Pak Suzuki Motor Company (PSMC) has recorded a 50% reduction in sales followed by Honda Atlas Pakistan with 35% and Toyota Indus Motors with an 18% decline in sales.

Overall car sales for the first 8 months of FY 2019-2020 have also recorded an unprecedented decline of 44% when compared to the same period last year.

Auto companies had sold 162,240 vehicles during the first 8 months of FY2018-2019. This year, they have managed to sell 90,834 vehicles so far.

Here is a detailed chart of car sales for the past month:

Bikes

As far as bikes are concerned, only Sazgar managed to improve its sales in February 2020. Bike sales of both Atlas Honda and Pak Suzuki have recorded a decline in February 2020.

For 8 months of FY 2019-2020, only 849,632 bikes were sold against the 946,861 of the same period last year, recording a 10% drop in sales in the sector.

Tractors

Sales of tractors in Pakistan have also declined by 22% in February 2020.

Millat, Orient, and Al-Ghazi tractors sold 3,141 tractors last month against the 4,044 tractors during the same period last year.

Sales during the first 8 months have also reduced by 36% in FY 2019-2020.

Trucks and Buses

Sales of trucks and buses have reported a decline as well in February 2020.

Hino, Master, JAC, and Isuzu collectively sold 402 units against the 563 in the same period last year, recording a 29% decline.

Sales across the segment during the first 8 months have declined by 41% in FY 2019-2020.

Source: Pro Pakistani

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