Pakistan’s total auto output in February stood at 17,4972 units, up by 13.4pc from 154,213 units produced in Feb 2020, according to data released by the Pakistan Automotive Manufacturers Association (Pama).
The country’s total auto sales in the same month grew by 13.5pc to 175,621 units from 154,733 units in the previous year. The hefty reduction in interest rates that pushed auto financing, played a major role in the turnaround in car sales.
Total production of passenger cars rose by 33pc to 13,130 units in Feb 2021 as compared to the previous year period. Total sales increased by 31.7pc to 13,570 units in the same period.
Trucks and buses
Total production for the trucks and buses segment declined by 17.4 pc and stood at 336 units in the same period. The total sales declined by 18.1pc in February as compared to prior-year month. Commercial segment was hit due the pandemic as people are using less public transport.
Total production of Jeep more than doubled in the month. Its total production stood at 1050 units, which was 473 units in Feb 2020. Its total sales rose by 118pc in the same period with total 1058 units sold.
Total tractor production rose by 42pc to 4,351 units in the same period and total sales rose by 41pc in February with total 4,450 units sold.
Incentives to boost sales of cars and other automobiles in the past couple of the months has prompted hopes of an early revival. Total industry sales, excluding trucks, buses, and two-and three-wheelers is forecast to peak to 500,000 units in the next five to six years, according to local media.