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Car sales show 17 percent growth in September

Car sales including jeeps, vans and LCVs during September showed a growth of 17 percent to 18798 units, according to the latest figures released by Pakistan Automotive Manufacturers Association.

Cumulative industry sales during the first three months of current fiscal year exhibited 27 percent growth to 60,470 units.

Honda (HCAR) continues to outperform compared with other assemblers. In September it registered 24 percent growth due to success of new models Civic and 7-seater BRV. During the first quarter of this fiscal year, Honda’s sales grew 56 percent to 12,606 units.

Suzuki’s (PSMC) sales were up 22% YoY as price conscious models Mehran (+43% YoY), WagonR (+60%), & Cultus (+33%) all exhibited healthy growth. Cumulative first quarter sales were up 30 percent to 32,777 units.

Toyota’s Indus Motors (INDU) lagged behind peers with only 4 percent increase in September and 5 percent growth in first quarter due to production constrains.

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