HomeBusinessGood news for car lovers.

Good news for car lovers.

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Good news for car lovers.

There is good news for car enthusiasts.

According to media reports Auto sales drop 38% nationwide Sales of cars, light commercial vehicles, pickup trucks and Jeeps fell 3% to 9,379 vehicles in March, compared with 9,709 vehicles in February.

During the first 9 months of the current fiscal year Sales of the vehicle stood at 69,000 78 units after a 38 per cent decline on volumes of 110,000 898 units in the same period of the previous financial year.

In this regard, according to information released by the Pakistan Automobile Manufacturers Association. Tractor sales rose 66% to 35,000 199 units, compared to 21,000 233 units in the July-March period.

On the contrary Sales of trucks, buses, motorcycles and rickshaws decreased by 45, 39, and 10 percent, respectively.

According to the report, sales of Honda Civic and City in the 1,300 cc and above category fell 31% to 8,514 units in the first nine months of the fiscal year. Meanwhile, sales of Toyota Corolla, Yaris and Cross dropped 33% to 10,000 units to 728 units.

During the first 9 months of the last fiscal year Sales of these cars stood at 15,000 994 units. Hyundai Elantra and Sonata sales dropped 59 percent and 43 percent to 778 and 611 units, respectively.

Conversely, Mazda Keyhole sales rose 153% to 3,136 units, while JAX-200 and Hyundai Porter sales rose to 494 and 1,318 units, respectively.

The downward trend in auto sales is due to a decline in auto loans. higher price and the purchasing power of consumers has decreased. This is because interest rates are at an unprecedented 22 percent.

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