Karachi, March 15, 2023 (PPI-OT): Total industry sales for Feb’23 clocked in at 9,749 vehicles (-64%YoY/-34%MoM), consisting of 3,642 passenger cars (-80%YoY/-40%MoM), 2,120 LCVs and pickups (-41%YoY/-56%MoM), and 521 trucks (4%YoY/+31%MoM). The sequential drop in vehicle sales can be attributed to supply chain constraints with the industry witnessing frequent plant shutdowns on the back of supply issues.

Segment-wise, 1000cc emerged as the least favourite segment during the month with overall sales dropping by 95%YoY while also contracting 86%MoM. The 800cc and below segment remained flat on a MoM basis but declined by 92%YoY, while the 1,300cc and above segment contracted 56%YoY and 32%MoM. In 8MFY23, the volume of the 800/1,000/1,300cc+ segment depicted a decline of 39%/68%/44%YoY.

Amongst the major OEMs, PSMC/INDU/HCAR posted sales of 978/1,803/1,636 units declining by 92%/61%/40%YoY. On a MoM basis, PSMC witnessed a massive decline of 67% followed by INDU posting a decline of 49% while HCAR also posted a decline of 39%MoM. The restriction on the opening of LCs for the import of CKD kits resulting in a shortage of raw material led PSMC/INDU/HCAR to suffer decline in volumes.

Tractor sales remained flat on a MoM basis while posting a decline of 26%YoY to clock in at 3,330 units in the month. Moreover, we have seen a rise in sales of MTL up by 18%MoM whereas on the flipside AGTL witnessed a decline of 39%MoM to post sales of 2,602 and 728 units, respectively.