Auto sales see growth during Mar 22 in Pakistan

Despite the ongoing political turbulence and economic uncertainty, auto sales continued to increase by 25% MoM and 30% YoY to 27,131 units.

Despite the upward revision in car prices and rising inflation, car buyers’ interest remained alive, mainly on account of i) anticipation of further price hikes amid massive rupee devaluation and surge in cost of production, and ii) greater demand for locally assembled cars given the increasing cost of imported CBUs on the back of higher freight costs & commodity prices (especially steel), substantial currency depreciation, and imposition of a temporary ban on the financing of imported CBUs.

During Mar ’22, local auto assemblers registered impressive sales growth, mainly in the below 1000cc segment, up by 107% YoY, followed by 1300cc & above, up 10% YoY. In addition, the passenger car segment also remained in the limelight (+34% YoY).

Courtesy- AHL Research

Posted in Telecommunication & Automobile News.

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