ISLAMABAD – Honda Atlas faces the worst setback in Pakistan as the HondaVehicles sale and production in Pakistan registered massive decline withthe sales dropping by near two third in September 2019.
Car sales in Pakistan registered a decline of 39pc in Sept 2019, comparedwith the same month of last year.Honda (HCAR) remained the biggestcontributor to the industry’s decline, as its sales went down 68pc in Sept2019, followed by Indus Motors (INDU -57pc) and Pak Suzuki (PSMC -18pc).
This is primarily attributable to higher auto prices post rupeedevaluation, higher interest rates for auto financing, and overall economicslowdown affecting disposable income.
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The significant attrition in INDU’s volumes was mainly due to a 59pc YoYdecline in its Corolla variant, which historically has supported thecompany’s overall volumes and has been the consumers’ preferred choice inthe sedan category. Similarly, the sales of Fortuner and Hilux plunged by43pc and 32pc during the month under review.
