Not a Single Car Sold in April 2020

Automobile manufacturers have witnessed worst-ever month as not a single car was sold during April 2020 owing to lockdown imposed by the federal and provincial governments to prevent coronavirus pandemic.

The lockdowns due to COVID-19 imposed by the Federal and Provincial governments in the later half of Mar-2020 till date has resulted in no car sales during Apr-2020, as reported by Pakistan Automobile Manufacturers Association (PAMA).

The lockdowns has resulted in closure of plant operations along with car dealerships across the country.

As a result, in 10MFY20 car sales have declined by 52 percent YoY.

Honda Car (HCAR) sales are down by 64 percent YoY, followed by Indus Motors (INDU) and Pak Suzuki Motor Company (PSMC) with declines of 54 percent YoY and 47 percent YoY, respectively.

ATLH (motorbikes) too recorded nominal sales of 2,783 units compared to pre-COVID sales of around 100k units.

Keeping in view the importance of the Wheat harvesting season, the governments allowed the tractor industry to resume their operations in mid-April-2020.

The tractor sales during Mar-2020 recorded a decline of 63 percent YoY and 30 percent MoM.

Al Ghazi Tractors (AGTL) reported an increase of 19 percent MoM in its sales, while Millat Tractors (MTL) sales declined by 51 percent MoM. Last month, MTL sales were up MoM (+2 percent) whereas AGTL recorded a MoM decline (-22 percent MoM).

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