| GEO Business|
| Auto sales fall by 50 percent|
| Updated at: 1133 PST, Tuesday, May 12, 2009|
KARACHI: Local auto sales in first ten months of the year 2008-09 have declined by 50 per cent year-on-year (YoY) due to economic slowdown, high car prices and high rates of car financing.
Pakistan Auto Manufacturers Association (PAMA) has released auto sales figures for the month of April in which cumulative auto sales (Cars+LCVs) posted a decline of 50 per cent YoY to 81,143 units.
In first 10 months, car sales alone declined by 50 per cent with Pakistan Suzuki and Dewan Motors among the major losers as their sales plummeted by 55 per cent and 75 per cent respectively. However, month-on-month (MoM) basis car sales depicted a growth of seven per cent, JS Research reported on Monday.
However, in last two months auto sales have shown a rising trend. In April 2009, auto sales have risen to 7,475 units, up 6 per cent on MoM. Company-wise data reveals that Pak Suzuki and Indus Motor are amongst the major gainers as their sales increased by 38 per cent and 24 per cent respectively.