Business April 14, 2021
KARACHI: Car sales hit a three-year high of 23,000 in March as an influx of new variants alongside lower auto financing rates continued to revive consumer demand, industry data showed on Tuesday.
Car sales increased 27 percent to 20,801 in March compared with February, according Pakistan Automotive Manufacturers Association’s (PAMA) data. However, PAMA numbers didn’t include sales of Kia brand.
Lucky Motors Corporation (known for KIA) and non-member of PAMA sold around 2,000 units and recorded around 20 percent month-on-month increase with 9MFY21 sales growth estimated at around 46 percent, said Qazi Hadi, an analyst at Topline Securities. With all, car sales in March were highest since October 2018.