KARACHI: Car sales plunged 44 per cent followed by a 23 per cent drop in jeeps, SUVs and pickups during the July-September quarter despite a month-on-month (MoM) jump in August and September.

Barring tractor sales, other segments also gave a dismal performance led by a drop of 47pc in trucks, 32pc in buses and 10pc in two- and three-wheelers.

Total car sales clocked in at 16,021 units in July-September FY24 as compared to 28,571 in the same period last fiscal year, while September sales crawled up to 6,410 units from 5,909 units in August and 3,702 units in July.

Honda Civic/City sales stood 63pc lower at 1,860 units from 5,045, while Suzuki Swift sales plunged by 40pc to 1,261 from 2,116 in 1QFY23.

Toyota Corolla and Yaris sales halved to 3,236 units from 6,415 units. Suzuki Cultus and WagonR sales plunged 55pc and 32pc to 814 and 963 from 1,823 and 1,413 units.

Suzuki Bolan and Alto 660cc also suffered a drop of 54pc and 27pc to 541 and 6,760 units from 1,189 and 9,283 units.

Sunny Kumar of Topline Securities attributed rising month-on-month sales to the easing of CKD import issues, while year-on-year sales fell due to escalating prices, expensive auto financing and consumers’ low purchasing power.

Total sales of pickups, SUVs and pickups recorded at 4,962 units in 1QFY24 compared to 6,431 units in the same period last year. During September, the above segment sales rose to 1,902 units from 1,670 in August and 1,390 in July.

Toyota Fortuner and IMV sales stood at 1,275 as compared to 1,453 units in 1QFY23, down by 48pc while Hyundai Tucson survived better than Toyota luxury vehicles by posting a negative growth of 17pc to 1,213 units as against 1,464.

Honda BR-V/HR-V sales surged by 12pc to 650 units during 1QFY24 from 581 in the same period last fiscal. Sazgar Haval sales swelled to 712 units from 83.

Hyundai Porter sales rose by six per cent to 368 from 347 units while Hyundai Santa Fe also added to the PAMA figures with production of 87 units in September. Suzuki Ravi sales came down by 26pc to 607 from 815 units.

Total truck sales plunged by 47pc to 451 units from 852, while bus sales stood at 96 units as against 141, down by 32pc.

Agriculture indicators appeared to have revived with a 64pc rise in tractor sales (Fiat and Massey Ferguson) to 12,090 units from 7,368 during 1QFY23.

As for two- and three-wheelers, Honda sold 7pc less bikes to 232,139 during the first quarter FY24 as compared to 250,132 in the same period last year.

A 62pc fall was registered in Suzuki bikes to 3,775 from 10,007 while Yamaha bike sales faced 31pc decline to 2,555 from 3,736 during 1QFY23.

United Auto Motorcycle and Road Prince Motorcycle sold 21,803 and 4,118 units in July-Sept FY24 as compared to 20,369 and 9,273 in the same period last fiscal.

High bike prices and the shrinking buying power of consumers can be attributed to low two-wheeler sales.

Qingqi, Sazgar, Road Prince and United three-wheelers sales were 1,335, 2,876, 157 and 218 during 1QFY24 as compared to 1,365, 2,193, 636 and 412 units in the same period last year.

Published in Dawn, October 12th, 2023