Auto sector records 38pc decline in sales

By: News Desk
Published: 04:44 PM, 12 Jan, 2023
Auto sector records 38pc decline in sales
Caption: Representational image.
Stay tuned with 24 News HD Android App
Get it on Google Play

Due to the non-clearance of imported goods and ban on CKD parts, the auto sector recorded 38 per cent decline in sales in December 2022 as compared to the corresponding month of 2021, reported 24NewsHD TV channel on Thursday.

With 38 per cent drop, the sales of vehicles stood at 39,400 units in the six months of this fiscal year.

According to the data of Pakistan Automotive Manufacturers Association (PAMA), 27,341 vehicles were sold in December 2021 compared to 16,984 vehicles in the same period in 2021.

Moreover, sales of 83,429 vehicles fell by 39 per cent in the six months of current fiscal year compared to the135,976 vehicles sold in FY 2021.

According to auto sector expert Mashood Khan, there has been a severe shortage of raw materials as a result of the non-clearance of LC which forced the companies to shut down their plants. 

He added that the demand has also decreased due to the increase in the prices of vehicles.

Reporter: Ashraf Khan

Categories : Business