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Auto sales post robust growth in 1QFY22

By Aamir Shafaat Khan 2021-10-13
KARACHI: Sales scenario of the entire auto sector during the first quarter of FY22 remained encouraging with 80.6 per cent jump in car sales followed by 100pc in trucks, 132.6pc in jeeps, 95pc in LCVs and 12pc in farm tractors.

Umair Naseer at Topline Securities attributed growth in car sales to low-base effect, improvement in macro activity and cut in prices after the announcement of budget FY22.

The increasing transportation activities have pushed the sales of heavy vehicles during the quarter, he added.

According to the Pakistan Automotive Manufacturers Association (PAMA) data, a total of 57,539 cars were sold in July-September period of 2021-22 versus 31,868 units in the same quarter last year, while in September sales also remained higher with 18,971 units as compared to 17,899 units in August and 11,860 units in September 2020.

In the 1,300cc and above segment, Toyota Corolla beat its peers with 83pc jump in sales to 6,596 units in 1QFY22from3,614unitsinthesame period last year.

Honda Civic/City and Toyota Yaris sales posted a growth of 20pc each to 7,793 and 7,240 units from 6,483 and 6,009 units in 1QFY22.

However, the demand for Suzuki Swift plunged by 26pc to 466 units from 630 due to its discontinuation by Pak Suzuki Motor Company Ltd(PSMCL).

The sales of new PAMA members -Hyundai Elantra and Sonata stood at 724 and 496 units in the first quarter of the current fiscal year.

In 1,000cc category, Suzuki Cultus and WagonR sales grew massively by 210pc and 123pc, respectively, to 10,114 and 5,488 units as compared to 3,263 and 2,460 units in 1QFY21.

In below 1,000cc segment, Suzuki Alto 660cc excelled with105pc jump to 15,681 units from 7,651 units followed by 67pc rise in Bolan sales to 2,941 from 1,758 units in 1QFY21.

In jeeps, Toyota Fortuner sales swelled by 311pc to 1,601 units from 390 while Hyundai Tucson and Honda BR-V sales soared to 692 and 1,379 units from 237 and 952 units, up by 192pc and 45pc, respectively, compared with 1QFY21.

Insight Research was of the viewthatfavourableinterestrates,launch of new models, conducive environment and economic recovery played the role in rising car sales. It said that tractor sales were supported by better farmer agronomics and financing schemes.

Truck, tractors and pickups In pickups, Suzuki Ravi, Toyota Hilux, JAC, D-Max and Hyundai Porter salesincreasedto3,741,3,209, 206, 131 and 391 units from 1,723, 1,702, 160, 96 and 255 units, up by 117pc,89pc,29pc,36pc and53pc.

Fiat tractor sales jumped by 39pc to 4,828 units from 3,475 while that of Massey Ferguson stood at 7,197 units as compared to 7,225 units in 1QFY21.

Total truck sales showed a massive rise of 100pc to 1,570 units from 783 in 1QFY21 following recovery in Hino sales to 233 from 115 units.Hino sales had remained under pressure for the last few months while its competitors had been gaining their market share. Sales of Master, Isuzu and JAC trucks went up to 557, 718 and 62 units from 223, 391 and 54 units, up by 150pc, 84pc and 15pc, respectively.

Bad luck for Hinopak as its bus sales suffered 34pc fall to 38 units from 58 units in IQFY21, while its rivals like Master and Isuzu enjoyed 10pc and 93pc rise in the last three months to 76 and 27 units as compared to 69 and 14 units in the same period FY21.

Tough quarter for three-wheelers In two-wheelers, total sales stood at 449,468 units as compared to 448,736 units as Chinese bike assemblers had been facing dwindling demand in contrast to soaring sales of Japanese bike assemblers.

Honda bikes sales up 8pc to 310,041 units in 1QFY22 from 288,005 units.

Suzuki bike sales soared by 87pc to 8,581 from 4,583 units while Yamaha registered a rise of 28pc to 5,947 from 4,643 units during the period under review.

United Auto Motorcycle and Road Prince Motorcycle faced 15pc decline each in sales to 83,981 from 98,363 units and 31,007 from 36,514 units respectively.

The firstguarter FY22 also proved tough for the three-wheelers assemblers as Road Prince and United Auto sales came down by 29pc and 62pc to 2,223 and 832 units from 3,140 and 2,182 units in IQFY21.