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Sale of cars surges by healthy 21.4pc

Sale of passenger cars has registered a healthy surge of 21.4 pc in first five months of ongoing fiscal year (FY) 2017-18.

These stats were shared by Pakistan Automotive Manufacturers Association (PAMA) in a press release.

According to details, 87273 units of cars were sold from July to November this year while the figure stands at 71877 for the same period in previous fiscal year.

“The five-month sales were higher than our expectations. We have revised our full year sales estimate of 250,000 units from 236,000 units earlier, up 17 percent year-on-year,” an analyst at Topline Securities Rai Omar Basharat told reporters.

Analysts believe that soaring sale is being driven by rise in demands of 1000cc and below category vehicles seemingly from ride-sharing services like Uber and Careem.

Meanwhile, sale of buses plummeted by 69.56pc to 276 units. During the same period in previous financial year, the numbers stood at 468.

Published in Roznama Dunya, 13th December, 2017

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