Honda cars' sales fall by 42.39%

By From dailytimes| Apr 12 2007
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The production and sales of Honda Company cars went down by 50.21 percent and 42.39 percent, respectively, in July-March 2006-07, but the overall production and sales of locally-made cars slightly went up by 3.29 percent and 5.52 percent, respectively.

Locally-made cars’ sales went up by 5.52 percent to 117,295 units in nine months, as compared with 111,155 units in the same period last year, while production rose by 3.29 percent to 116,176 units, against 112,478 units in the same period last year.

According to the data received from the Pakistan Automotive Manufacturers Association (PAMA), sales of Honda Atlas cars declined by 42.6 percent to 5,069 units in July-March 2006-07, as compared with 9,975 units in the same period last year. Its production dropped by 57.29 percent to 4,230 units in nine months, against 9,904 units in the same period last year, the data said.

Compared with February 2007, overall sales figures slightly improved to 14.6 percent to 15,631 units in March 2007, as compared with 13,633 units sold in February 2007. However, the production increased by 11.66 percent to 15,396 units in March this year, against 13,788 units in February last.

In March this year, Honda Company sold 739 units of Civic, as compared with 721 units sold in February 2007. The company produced 598 units this month, while it made 666 units in last February.

“The rising interest rates by leasing companies and commercial banks have hit the locally assembled, or manufactured cars’ sales,” said Abdul Azeem, auto analyst at Invest Capital and Securities, a local brokerage house. “Another major issue was the import of vehicles,” he added. The analyst attributed it to strict documentary requirements, rising car financing rates and ever-rising imports. The sales of most favourite brand of Suzuki Mehran increased by 2.6 percent in July-March 2007 to 26,764 units against its total sale of 26,087 units in the same period last year. Its production went up by 4.38 percent to 27,054 units in July-Jan 2007 against 25,918 units in July-March 2006.

During July-March, the company sold 4,507 units of Liana cars against its production of 5,389 units. Only in March 2007, the company produced 200 units of Liana, but sold 402 units, as compared with 305 units sold in February 2007. The production of Toyota, a luxurious above 1000cc car, went up by 14.46 percent to 25,474 units in July-March 2007, as compared with 22,255 units in the same period last year.

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