Pakistan Automotive Manufacturing Association (PAMA) has unveiled the Dec’14 production and sales data of auto industry exhibiting a slightly negative picture for the auto assemblers’ due to year end phenomenon. Auto sales including Car, LCV & Pickup sales down by 6% MoM to 11,087 units during Dec’14 versus 11,789 units in Nov’14 – hitting 4 month low due to consumer usually defer buying vehicle to get new year registration. Whereas auto sales hike YoY in the month of December as cumulative Car, LCV & Pickup sales up by 25% YoY to 11,087 units against 8,868 units sold in December 2013.
1HFY15 sales up by 10%
Total auto sales swell by 10% to hpw 67,426 units during 1HFY15 versus 61,252 units in 1HFY14. The higher sale was mainly attributed to higher sales of Indus motors which surge by 51% and better farmer income. Similarly car sales increase by 11% to 58,727 units during 1HFY15 against 52,879 units in 1HFY14 driven by Indus sales.
Production on the rise
Cumulative production up by 10% to reach at 67,426 units in 1HFY15 from 61,252 units produced in 1HFY14. The production growth was more significant in Dec’14 where growth of 25% witnessed to reach at 11,087 units against 8,868 units sold in Dec’13. This was due to launch of a new model by Indus Motors.