LAHORE - As per the latest auto sales statistics published by Pakistan Automotive Manufacturers Association, tractor sales have started to show signs of respite with 54 per cent monthly rise in its sales to 3,096 units.

However, most of the recovery was seen in MTL sales which improved 75 per cent to 2,320 tractors while AGTL showed modest growth of 710 tractors. However, 1QFY16 tractor sales remained at 6,745 units, 28 percent lower than the SPLY.

According to data, Heavy Commercial Vehicles (HCVs) sales fell by 8 per cent MoM, mainly due to 54 per cent lower Master sales to 38 vehicles and 58 percent less GHNL sales to 30 units. On the flip side, volumes of GHNI and Hino jumped by 33 percent and 6 percent to 133 and 232 units, respectively.

Locally assembled car sales have dipped to 18,424 units in Sep’15 compared to 20,479 units in Aug’15. Experts attributed the 10 percent MoM fall to the reduced number of working days due to Eid holidays. Further, auto sales also start to fall in the first half of a fiscal year, as most of the buyers prefer to buy newer model.

During Sep’15, PSMC sales fell by 12 percent MoM to 11,389 vehicles, mainly because of sharp decline in Ravi (-23 percent to 2,859 units) and Bolan (-10 percent to 3,487 units) sales. Similarly, INDU sales slowed down by 10 percent, where Corolla sales decelerated by 6 percent to 4,672 units while Hilux sales declined by 49 percent to 258 units. On the other side, HCAR sales remained stable at 2,001 cars in Sep’15 compared to 2,002 cars last month.

Similarly, in 1QFY16, car sales have speeded up by 72 percent to the record highest level of 54,812 units, thanks to growing middle class, rising income levels and lower interest rates. During the quarter, Punjab taxi scheme doubled PSMC sales to 33,770 while new Corolla model brought 50 percent jump to the INDU sales to 14,767 cars.