Saturday , June 23 2018
Breaking News
Home / Business / Sales of locally assembled vehicles go up by 15 % in February
Sales of locally assembled vehicles go up by 15 % in February

Sales of locally assembled vehicles go up by 15 % in February

ISLAMABAD: The sales of locally assembled vehicles and Light Commercial Vehicles (LCVs) have witnessed 15 per cent increase in February this year as compared to same month last year.

Local auto manufacturers have sold a total of 22,654 units in February this year as compared to the 19,686 units that were sold in February last year. This increase may be attributed to strict import policy that government implemented to decrease trade deficit and imports.

The statistics issued by Pakistan Automotive Manufacturers Association (PAMA) on Tuesday revealed that sales of LCVs increased by 41 per cent year-on-year for February 2018 as 3,627 units of LCVs were sold in February this year as compared to 2,467 units in February 2017. Hilux sales increased by 33 per cent as well to reach record sales numbers.

Pak Suzuki saw most sales among top three automobile giants in Pakistan. This growth is mainly because of increased sales of Suzuki Mehran and recently upgraded Suzuki Wagonr.

Suzuki sold 1,000 more units of Mehran in February 2018 as compared to February 2017.  The Company sold 447 more units of Wagon-R year-on-year for month of February.  Suzuki posted a year-on-year overall increase of 25 per cent in its sales.

Honda posted some decent profits as well due to increasing popularity of BR-V model and Honda City sedan. Honda sold 661 more units of its BR-V model in last month as compared to February 2017.

Overall, Honda Atlas saw an increase of 20 per cent in its sales over month of February as compared to last year in same month.

Toyota took a hit as its sales decreased in February as compared to last year. Overall auto sales of Toyota are expected to increase in upcoming days.

The sale of tractors also went up to touch 6,454 units in February 2018. Last year, during same month, 4,647 units of tractors were sold. The major contributor to sales of tractors is reduced General Sales Tax on tractors which decreased to 5 per cent.