November 29, 2022
Business

Auto sales are lowered by supply restraints

Auto sales are lowered by supply restraints

KARACHI:Pakistan’s vehicle sales fell 59% to 14,000 units in July 2022 compared to June 2022 as a result of the import ban on auto parts implemented in an effort to reduce the current account deficit (CAD).

Sales by non-Pama (Pakistan Automotive Manufacturers Association) members are included in this decline.Production problems and rising car prices, which have lowered consumers’ purchasing capacity, are the main causes of the fall. In July, auto sales fell by 52% when compared to the same month last year.

Indus Motor (INDU) reported a fall of 62% to 2,375 units in July 2022, mostly as a result of non-production days.In July 2022, sales at Pak Suzuki Motor Company (PSMC) decreased by 58%. With the exception of Alto, other business versions experienced declines in the range of 57-95%. This is partly because of a low base effect, which enabled Alto’s sales grow to 4,618 units in July from 1,216 units in June.

Leave a Reply

Your email address will not be published. Required fields are marked *