Car Sales Declined Sharply by 28% in November 2018

[VCheng]

Ok. But what are the advantages?

The hoi polloi get something rather than nothing, and some people make a lot of money from a captive market.

 

[RoadRunner401]

Ok. But what are the advantages?

“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/

yes @Champion_Usmani I am well aware of your skills of cut and paste. but isn't it funny how you an Indian is so much concern about Pakistan that you are not looking at your own Home

Indian auto sales drop 10% in peak shopping season
Industry body urges government and central bank to avert credit crunch

MUMBAI -- Indian sales of new cars declined over 10% on the year in October and November, according to the Federation of Automobile Dealers Associations, which expressed concern about a credit crunch at nonbank providers of auto and other loans.

The FADA tallied the number of vehicles registered from Oct. 10 to Nov. 20, a period that included the Diwali Hindu festival, which fell on Nov. 7. Generally, Indian demand for big-ticket items peaks around Diwali.

About 2.05 million new cars were sold in India during the period, down 11% from the Diwali season of 2017, calculated from Sept. 21 to Nov. 1.

This is the first time the FADA has released its new car sales data. Armed with the troubling numbers, the federation called on the government and central bank to take measures to revive lending.

By segment, passenger car sales dropped 14% on the year, while the figure for motorcycles fell 13%. Commercial vehicle sales rose 16% and three-wheeler sales increased 10%, but the growth was not enough to offset the other results.

The Society of Indian Automobile Manufacturers, another industry group, compiles monthly sales data based on shipments from manufacturers' dealerships. FADA statistics show the number of cars registered by consumers, hence they more closely reflect changes in consumer demand.

FADA President Ashish H. Kale said in a statement that the steep sales contraction in this year's shopping season was the first in recent years, warning that inventory buildups at dealers are a grave concern.

India's nonbank financial institutions are under pressure after a series of high-profile defaults since August. Some are reportedly refraining from extending auto loans, prompting the FADA's plea for official relief.



As I said @Champion_Usmani go worry about your own.

 

[SunilM]

The hoi polloi get something rather than nothing, and some people make a lot of money from a captive market.

I know. If a mehran costs 8- 9 lakhs, I shudder to think what a Pajero would cost!

 

[Abdussamad]

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

Yes one month figures are meaningless

 

[Tps43]

Yes one month figures are meaningless

Do see jan and feb figures they we tell us real figure

 

[VCheng]

I know. If a mehran costs 8- 9 lakhs, I shudder to think what a Pajero would cost!

Large 4x4s are in the multiple tens of millions of PKRs.

 

[Fawadqasim1]

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....

Indeed it is sir

 

[Baghial]

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/

the crap they sell for 10.000 dollars in pakistan is called a car?