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Sale of local cars goes up in September

Sale of local cars goes up in September

KARACHI: A rise in sale of locally manufactured cars was witnessed in September.

An office-bearer of the Pakistan Auto Manufacturing Association said during September 12,602 cars were sold. As many as 11,000 cars were sold during the same period last year.

According to experts, sales rose 14 percent after attractive models of locally made cars were introduced. In the first quarter of current fiscal year, the sale of local cars was 31,899 units with a 3 percent deficit.

According to Topline Securities, during the first quarter of the previous fiscal year the sale of cars remained 32,841 units. In September 2014, the sale remained 12,693 points which was 4 percent greater than August and 14 percent more than September 2013.

In August 2014, 12,258 cars were sold. In September 2013, 11,166 cars were sold. The reason behind decline in sale is trade before increase in taxes in June and decline in business activities during Ramazan. In July, sales were on the rise due to increase in advance motor vehicle tax and imposition of advance income tax on registration.