Car Sales Declined Sharply by 28% in November 2018

[CSPK]

Sales of locally assembled vehicles fell sharply (up to 28%) in November 2018 due to hike in prices and restrictions on purchase by non-filers of tax returns. Country’s weakening economic situation is also considered to be one of the reasons behind the plunge in sales.

According to the data released by the Pakistan Automotive Manufacturers Association (PAMA), sales of 800 to 1000cc cars declined 25% year-on-year and 37% month-on-month basis in November. Overall, automobile sales shrunk 17% year-on-year to 17,442 units in November 2018 whereas sales dropped 30% to 17,442 units on a month-on-month basis against 24,850 units in October.

Pak Suzuki, the only assembler of small cars in the country gets the worst affect. Its sales declined 37% to 8,511 units in November on a month-on-month basis from 13,346 units last month. Bear in mind, Pak Suzuki’s profit after tax also declined by 55% for the first nine months in year 2018.

https://www.carspiritpk.com/2018/12/13/car-sales-declined-sharply-in-november-2018/

 

[Skull and Bones]

Sale of cars and automobiles gives an outlook of the economy.

 

[enquencher]

@asadumar @ImranKhan.

 

[lightoftruth]

Inflation creeping in.
Very bad and very sad.

 

[Tps43]

Actually people in Pakistan dont buy cars in last months of year this was expected

 

[El Sidd]

Pakistanis are now becoming more and more environmental friendly in their approach towards post modern climate change world.

 

[Tps43]

Pakistanis are now becoming more and more environmental friendly in their approach towards post modern climate change world.

Thanx to trump

 

[Moon]

Sale of cars and automobiles gives an outlook of the economy.

Actually due to restrictions on non-filers.

 

[SunilM]

Well if a Mehran costs 8 - 9 lakhs, one is better off without a car...

 

[VCheng]

Well if a Mehran costs 8 - 9 lakhs, one is better off without a car...

I would disagree. The Mehran, overtaxed as it is to cost this much, is still a relatively cheap and reliable car for the masses in Pakistan.

 

[SunilM]

I would disagree. The Mehran, overtaxed as it is to cost this much, is still a relatively cheap and reliable car for the masses in Pakistan.

That outdated piece of technology has the highest local content. Still its not ‘cheap’. Its should at max be 3 lakh pkr.

 

[VCheng]

That outdated piece of technology has the highest local content. Still its not ‘cheap’. Its should at max be 3 lakh pkr.

The car is cheap, but it has high taxes on it. Pakistan is generally where technology goes to die while benefiting monopolies, okay, but this has advantages too.

 

[RoadRunner401]

Sales of locally assembled vehicles fell sharply (up to 28%) in November 2018 due to hike in prices and restrictions on purchase by non-filers of tax returns. Country’s weakening economic situation is also considered to be one of the reasons behind the plunge in sales.

According to the data released by the Pakistan Automotive Manufacturers Association (PAMA), sales of 800 to 1000cc cars declined 25% year-on-year and 37% month-on-month basis in November. Overall, automobile sales shrunk 17% year-on-year to 17,442 units in November 2018 whereas sales dropped 30% to 17,442 units on a month-on-month basis against 24,850 units in October.

Pak Suzuki, the only assembler of small cars in the country gets the worst affect. Its sales declined 37% to 8,511 units in November on a month-on-month basis from 13,346 units last month. Bear in mind, Pak Suzuki’s profit after tax also declined by 55% for the first nine months in year 2018.

https://www.carspiritpk.com/2018/12/13/car-sales-declined-sharply-in-november-2018/

CarSpiritPK does not guarantee or warrant the accuracy or reliability of any information, content or materials published on this blog. CarSpiritPK shall not be liable for any losses as a result of reliance on the information provided.

 

[SunilM]

The car is cheap, but it has high taxes on it. Pakistan is generally where technology goes to die while benefiting monopolies, okay, but this has advantages too.

Ok. But what are the advantages?

CarSpiritPK does not guarantee or warrant the accuracy or reliability of any information, content or materials published on this blog. CarSpiritPK shall not be liable for any losses as a result of reliance on the information provided.

“Sales of 800 to 1,000cc cars declined 25% year-on-year and 37% month-on-month in November, according to monthly data of the Pakistan Automotive Manufacturers Association (PAMA) released on Tuesday.

Sales of Pak Suzuki Motor Company, which caters to almost 50% of the market and meets mostly the demand from low-end customers, plunged 25% to 8,511 units in November against 11,285 units in the corresponding period of last year. Among different models of the company, sales of Swift fell 7%, Mehran 44%, Bolan 39% and Ravi 28% while Cultus sales grew 13%.


https://tribune.com.pk/story/1864781/2-car-sales-fall-back-price-hikes-curbs-non-filers/

 

[Hakikat ve Hikmet]

At some point of time the tax evaders will find it hard to remain so as more of their economic activities and freedom get constrained!!! A good move from the government!!! Economics after all is a behavioral science....