The first six months of the fiscal year 2015-2016 have brought 66% increase in the sale of domestically produced vehicles. This production includes light commercial vehicles, jeeps, and vans. The last year as per Pakistan Automotive Manufacturers Association (PAMA) showed drastically static sales result. Due to the potential developments in overall economic conditions such as increase in auto financing and Punjab Taxi scheme, the sales of automobile increased from 67,426 units to 111,720 units.
Sadiq Samin, Sherman Securities analyst said, “We expect auto sales to remain strong in the next half, despite the fact that Punjab Taxi Scheme is going to end in the next few months”
In link to government’s drive of creating additional revenues of Rs. 40 billion, the three car manufacturers of Pakistan increased the prices 1.5 % from 1 % so that the 1 % increase can be added into the custom duty factor of imported parts.
Due to a strong increase in Pakistan for automobiles demand of automobiles in Pakistan, the car manufacturers were able to pass on the cost rise very easily. It was reported by Topline Securities, “We now forecast local cal sales to grow at 15% and reach 206,777 units by June 2016’s end.
The slow growth and decreased sale was said to be a reason of taxi completion scheme and the decline of Civics sale due to an increased anticipation of latest models. Pak Suzuki Motor’s sale which is the largest car manufacturer has increased to 97% in 1HFY16 to 70,482 units. This is increased sale is a result of Punjab Taxi Scheme.
According to traditional car buyer’s routine, the purchases are seldom made in December as the latest models of automobiles for the next year demand buying and registering for them in the beginning. However, this appeared different from ritual in the year 2015, as there was increase in sale by 3%.
Sales for Honda Atlas also increased, resulting in sale of 10,610 units instead of 8,578 units. While in 2015, the company sold 1,028 units. Year 2017 will be approaching with the latest versions of the most favorite models; majority is already excited especially for Prius Hybrid 2017. This is the time of the year when customers want to sell their cars, and this is when you should reach out to Motor Trader for purchase of perfectly condition cars.
It’s the easiest way to buy or sell your car online. You can go and check the car with your personal mechanic and deal with the customer yourself or let Motor Trader experts help you with the sale or purchase. It’s easy to sell and easier to purchase!
Farhan Ramzan is known for his untiring energy and enthusiasm. He is a passionate writer, and enjoys tweeting about his writing process about Cars at Motor Trader. Farhan has written a number of articles for various niches.