Toyota Fortuner sees 105% increase in Sales, Yaris Sales Down

Pakistan’s Auto Vehicles reported positive monthly growth once again, increasing by massive 48% YoY in the month of November-2020. However, as compared to last month, sales were up by only 3%. This takes July-November’2020 Sales growth to 19% YoY. Company-wise Indus Toyota and Honda Atlas Car volumes increased by 87% and 72% YoY while Pak Suzuki Motors sales growth turned positive this month, marking a growth of 16% YoY.

1300cc+ segment shines: Toyota Yaris was the primary driver of growth in 1300cc segment due to its relatively low price and new vehicle novelty factor while City/Civic sales also rebounded.

Growth-wise, Indus Toyota remained at the front as sales skyrocketed by 87% YoY which resulted in the company’s market share at 34% in November-2020. A total of 2,338 units of Yaris were sold during November-2020, depicting a decline of 24% from last month.

As per the company’s estimate, Yaris presently comprises more than 50% of the company’s Sales order book. An Increase was also witnessed in Fortuner and Hilux as they grew by 105% and 83% YoY. Improved farmer liquidity is presently playing a strong role in the growth of these models. The company’s volumes are expected to continue their upward trend due to Yaris being the preferred vehicle among its competition, availability of an upgraded version of Corolla January onwards, and improving farmer liquidity/macroeconomics boosting the demand for Hilux/Fortuner.

Honda’s sales jumped by 72% YoY but remained flat on a MoM basis. Civic&City continued their upwards trend, Increasing by 94% YoY in Nov’20. While BR-V flopped during the month as sales volume dropped by 35/60% YoY/MoM.

Honda is expected to face tough competition going onwards, as Yaris and Sportage Alpha both being new products and attractively priced and no update on new models of City and Civic would restrict overall growth.

Recovery for Pak Suzuki: PSMC reported a sales growth of 16% YoY in November-2020 after 12 months of continuous decline. Cultus was the main contributor to the company’s growth as its sales volume jumped by 66% YoY while WagonR provided support as it grew by 37% YoY. Bolan/Ravi also depicted a growth of 24/79% YoY likely due to an increase in economic activity. However, the company’s flagship Model Alto declined by 8% YoY which raises doubt over its future. Swift witnessed a natural decline of 38% YoY as the company plans to retire the model by the end of FY21. We expect the company to report a sequential incline going forward.

Overall Sales volume in the month of November were satisfactory as they reflect recovery in the economy. Low Interest rate along with improving macro economic factors would increase demand, however high car prices and new competition would keep the demand for existing car models in check.

The following two tabs change content below.

• Bio
• Latest Posts

News Desk

Latest posts by News Desk (see all)

• FBR asked to enhance efforts for Broadening Tax Net - May 27, 2023
• National Savings Rate for June-2023 - May 27, 2023
• Islamabad to get a new “Luxury Resort” - May 27, 2023