Daily The Business

Automobile sales down 31pc in November

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Our Special Correspondent

LAHORE: The Pakistan automobile industry sales have declined by 31
percent Month on Month (MoM) and year on year (YoY) it went down 20
percent while during the five months of the financial year the sales
went down 6 percent during the five month of the first half of the
financial year 2018-19, officials data said Tuesday.

Recently in the despite an improvement of 3 percent year-on-year in
car sales in September 2018, the industry has reported its worst
first-quarter sales since 2013, which marked a decline of 4 percent.

Sales stood at 19,345 units in the previous month compared to 18,798
units in September 2017.

Pakistan’s auto sales have shown a growing pattern in the recent past,
however, in the last couple of months they have displayed a declining
tendency. It has also been for the first time that auto sales declined
in the first two months of a fiscal year – July and August – since
2015.

“Breaking the trend of falling volumes in the past couple of months,
car sales in September rose by 3%. Sales are also up by 10% on a
month-on-month basis due to a higher number of working days in
September as compared to August,” said Topline Securities Research
Analyst Daniyal.

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