ISLAMABAD: The sale of motorbikes and three-wheelers has shown a negative growth of 1.37 percent during the first half months of the current fiscal year (2021-22) as compared to the corresponding period of last year.
According to the Pakistan Automobile Manufacturing Association (PAMA), as many as 937,776 motorbikes and three-wheelers were sold in July-December (2021-22) against the sale of 950,871 units in July- December (2020-21), witnessing a decline of 1.37 percent.
However, the sale of Honda motorcycles went up 9.80 percent from 618,140 units in last year to 678,655 units during the period under review whereas the sale of Suzuki motorcycles also rose by 70.51 percent from 10,574 units to 18,030 units.
Similarly, the sale of Yamaha motorbikes also went up from 10,524 units to 12,193 units witnessing an increase of 15.85 percent while the sale of Road Prince motorbikes witnessed a sharp decline of 26.38 percent from 78,955 units to 58,119 units.
The sale of United Auto motorcycles also declined by 25.71 percent from 202,284 units to 150,267 units while the sale of Road Prince three wheelers witnessed a decrease of 14.78 percent from 5,417 units in last year to 4,616 units during this year while the sale of Sazgar three wheeler also dipped by 27.67 percent from 7,021 units to 5,078 units.
The sale of Qingqi three wheelers has shown a decrease of 26.82 percent by going down from 9,822 units to 7,187 units whereas the sale of United Auto three wheelers also decreased by 57.37 percent from 3,810 units to 1,624 units, the data revealed.
Meanwhile, passenger car sales surged over 71 percent in the first six months (July-December) of the current fiscal year 2021-22 to 114,765 units from 67,026 units during the same period last year.
According to the PAMA data, auto sales increased by 91 percent on a year-on-year basis in 2021 to reach 237, 443 units. The PAMA said that passenger car sales increased over 59 percent on a month-on-month basis in December, with 24,462 units sold in December 2021 as 15,351 vehicles sold in November 2021.
According to PAMA, the sales witnessed 117 percent increase in December 2021 on a year-on-year basis as compared to 11,247 units sold in December 2020. Going by the details made available by PAMA, the total production of passenger cars was recorded at 22,159 units in December 2021.
The central bank’s decision on car financing, according to analysts, will slowdown off-take in the near-term. They said that though car sales increased during the outgoing month on a year-on-year basis, some impact was expected on car financing after the State Bank of Pakistan increased the down payment limit and reduced the financing period to a maximum of five years.
They said that due to an increase in car prices, inflation, and rupee depreciation, car sales would be affected in the coming days. In addition, the discount rate is also expected to be increased in the upcoming monetary policy. “Car financing will be affected resulting in a decline in car sales,” they added.
