Pakistan’s auto output in October increased by 8pc to 188,794 units from the prior year and by 5pc from September, according to data released by the Pakistan Automotive Manufacturers Association (Pama).
The country’s total auto sales in October stood at 194,224 units, up by 14pc from the prior year and by 10pc from September, after the government relaxed COVID-19-related curbs and lockdown.
During the lockdown, Pakistan’s auto companies paused production since auto sales had come to a standstill.
Of the total, passenger car output in October grew by 22pc to 11,601 units from Oct 2019 but declined by 4pc from the prior month.
Sales in the same period stood at 11,997 units, up by 25pc from the prior year and by 1pc from September.
Pakistani auto companies in October produced 1,935 units of light commercial vehicles (LCV), vans, and jeeps, 8pc higher than
the year prior, but 4pc down from the preceding month.
LCV sales in October grew by 5pc to 2,085 units from the prior year but declined by 2pc from the prior month.
Bus and truck output in October fell by 22pc to 318 units from the last year but grew by 11pc from the prior month. Sales rose by 21pc to 366 units from a year ago but fell by 5pc from September.
Pakistan’s two-wheeler and three-wheeler production in October stood at 170,964 units, up by 8pc from the prior year and by 7pc from a month ago. Sales rose by 12pc to 175,294 units from last year and by 11pc from September.
The country’s tractor production in October increased by 2pc to 3,976 units from last year but declined by 13pc as compared to September. Tractor sales were up by 57pc to 4,482 units from the prior year and by 5pc from September.
The demand for cars in Pakistan is likely to grow as economic activities pick up in the country. The government slashing interest rates for auto financing could also drive demand, as per media reports.