By: WE Financial Services Limited
Auto: Thanks to the Rozgar Scheme of Punjab government and increasing consumer financing, the automobile sales in the country remained robust during the first five months of FY16. As per the latest data released by Pakistan Automotive Manufacturers Association (PAMA), the automobile sales in Pakistan totaled 93,570 units in 5MFY16 resulting in a 66% YoY growth when compared to auto sales of 56,339 units in 5MFY15. In November’15 alone too, the auto sales remained higher as total 19,029 units were sold during the month which is 61% YoY higher as against 11,789 units were sold in November’14.
Cumulative production climbs 58% YoY: The overall automobile production of the country which include; Car, LCV, and Pickup reached 94,882 units in 5MFY16 which is 58% YoY up from production of 59,980 units in the identical period in FY15. This significant growth in production was on back of higher production by Indus Motors and Pak Suzuki. The growth in production was more significant in November’15 alone where total 19,728 units were produced during the month resulting in a 67% YoY growth when compared to 11,839 units produced in November’14.
PSMC grabs first rank: In terms of percentage growth in sales, Pak Suzuki Motor Company (PSMC) secured the top slot as it sold 58,098 units in 5MFY16 which is 97% YoY higher from 29,456 units sold in the similar period in FY15. This impressive growth in sales volume of PSMC was attributed to Apna Rozgar scheme by Punjab government. PSMC was followed by Indus Motor Company (INDU) whose sales volume rose 37% YoY in 5MFY16 to 25,743 units versus 18,786 units in 5MFY15.