Pakistan Auto Industry faces a Major setback
ISLAMABAD: Pakistan Auto Industry faces a Major setback in the Fiscal year 2019 - 20.
The car sales have witnessed a decline of 43.92 per cent during the first seven months of the fiscal year (FY20), as compared to the corresponding period of last fiscal year.
The production of cars also recorded a 46.08pc decline during July-January of financial year (2019-20) compared to the corresponding period of last year, said the statistics released by the Pakistan Automobile Manufacturing Association (PAMA) on Wednesday.
During the period under review, as many as 69,192 cars were sold against the sale of 123,391 units, while the production of cars decreased from 134,177 units to 72,337 units.
The sale of Honda cars went down by 65.91pc from 25,810 units in last year to 8,797 units during current year, while Suzuki Swift sale also dipped by 55.55pc from 2,880 units to 1,280 units.
The sale of Toyota Corolla went down from 33,303 units to 15,187 units, showing a decrease of 54.39pc, the data revealed.
Similarly, the sale of Suzuki Cultus also went down from 12,942 units to 8,310 units, posting a decrease of 35.79pc, while the sale of Suzuki Wagon-R also witnessed a sharp decline of 73.34pc from 19,181 units to 5,113 units during the period under review.
Meanwhile, the sale of Suzuki Mehran, the production of which has been suspended by Pak Suzuki, was recorded at 1,699 units during Jan-Jan (2019-20) against 19,535 units during July-Jan (2018-19).
The sale of Suzuki Bolan also witnessed decline of 65.50 percent from 9,470 units to 3,354 whereas the sale Suzuki Alto was recorded at 25,452 units during July-January (2019-20).
On the other hand, the production of Honda cars went down by 68.26pc from 25,939 units to 8,232 units during the period under review, while the production of Suzuki Swift witnessed a sharp decline of 69.21pc from 3,239 units to 997 units during the first seven months of FY20.
The production of Toyota Corolla declined from 33,390 units to 15,256 units, showing a decrease of 54.30pc, it added.
The production of Suzuki Cultus also decreased from 13,910 units to 8,115 units, witnessing a decrease of 41.66pc, while the production of Suzuki Wagon-R witnessed a sharp decline of 66.95pc from 20,845 units to 6,889 units during the period under review.