Car sales take a plunge amid COVID-19 lockdown

By: Faizan Javed      Published: 12:12 PM, 11 Apr, 2020
Car sales take a plunge amid COVID-19 lockdown

Passenger car sales experienced another bad month as sales plummeted by 71.8 percent to 5,796 units in March 2020 compared to last year's same period.

According to the Pakistan Automotive Manufacturers Association (PAMA) numbers, passenger car sales fell from 19,897 units sold during the same time last year to just 5,796 units in March 2020 due to coronavirus pandemic in the country. March's decline is the biggest-ever in revenue from any month.

Passenger car sales declined by 46.8 percent to 85,330 units in the combined period (July-March) compared to 160,359 units sold in the same timeframe last year.

For one exception to the Suzuki's Alto, as it was not manufactured in March of last year, all four-wheelers and above models reported a sales decline.

Indus Motor launched the latest Toyota Yaris in 1.3 and 1.5 models, but could not attract demand, as soon after its launch the country went on lockdown.

A report from Arif Habib Limited noted that March saw lowest monthly car sales after December 2008 amid enforcement of lockdown by provincial governments to limit the spread of coronavirus, which also resulted in the closure of plants.

Talking to 24NewsHD, showroom owner Rafeeq Ilyas said: “We are so much worried because of the lockdown. The car business is suffering a lot. If we will not earn how will we run the house? The government should open the lockdown and revise its policies.”

The coronavirus outbreak has consumed 72 lives in Pakistan so far, with the national count surging to 4,792 confirmed cases.

During the last 24 hours alone, at least 284 people acquired the disease, while a reassuring 155 attained complete recovery, and four lost their lives amidst speculations of a massive spike in the disease burden over the next couple of weeks.

Categories : Business