Car sales sluggish in December – Alfalah Securities Limited

Karachi, January 11, 2013 (PPI-OT): The car sales declined to 7,381 units during December 2012 as compared to 9,533 units during the same month last year and 8,216 units in November, depicting a drop of 22.57% YoY and 10.16% MoM.

According to Alfalah Securities Limited, the decline in overall car sales is mainly due to the year end where buyers prefer to defer purchase of new cars and register them in the next year and heavy import of used cars. The sales of Indus Motor Company’s Corolla witnessed a decrease of 26% MoM while declined by 50.0% YoY to 1,571 units in December.

Cumulatively, the car sales declined by 30% in Jul – December 2012, to 50,587 units as against 71,886 units last year. The sales of Honda Civic and City increased to 3,719 and 4,574 units in 6M FY13 as compared to 2,664 and 4,197 units last year. Toyota Corolla sales plunged to 12,429 units from 20,020 units last year while the sales of Pak Suzuki Co.’s Swift and Cultus declined to 3,123 units and 6,193 units witnessing a decline of 3.8%MoM and 11.95%MoM respectively in December.

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