Boston, MA -- (SBWIRE) -- 01/22/2013 -- Pakistan's auto industry suffered mixed fortunes over FY12, which ended in June 2012. Passenger car sales and production were both up strongly, while the commercial vehicles sector continued to lag. End FY12 sales figures released by the Pakistan Automotive Manufacturers Association (PAMA) showed that passenger car sales were up by 23% y-o-y, to reach 157,325 CBUs. Jeep and pick-up sales were up by 17.6%, at 21,472 CBUs. This was slightly ahead of BMI's forecasts and reflected the robust nature of demand in the new car market. The past year also saw a one-off boost to sales from the Punjab Province's 'Yellow Cab' taxi purchasing scheme, which saw Pak Suzuki deliver some 20,000 Bolan and Mehran models. Total vehicle sales for FY12 stood at 231,545 units, an increase of 6% year-on-year (y-o-y).

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Breaking down the headline figure, sales of passenger cars with engine size less than 1000cc increased by 41.6% y-o-y, to 61,528 CBUs. Mid-size engine cars (1,000-1,300cc) saw sales growth of 28.3% over FY12, to reach 29,981 CBUs, with larger engine cars (1,300cc+) showing the smallest growth, up just 7.6%, at 65,816 CBUs.

Over FY12, long-time market leader Pak Suzuki retained its dominance of the Pakistani new passenger car and pick-up sales market, selling 112,166 units for a market share of 62.7%. Indus Motor retained its position as the second most-important player in the local market, with sales of 54,477 CBUs over FY12, up by 9.9%, for a market share of 30.5%, with Honda Atlas suffering a 22.2% annual decline in sales, down to just 12,119 CBUs, for a market share of 6.8%.

Turning to commercial vehicles sales, sales of trucks were down by 18.6%, at 2,394 units, while bus sales were up by 13.1%, at 609 units. The worst performing sub-segment of the industry over FY12 was farm tractors, whose sales fell by 28.1% y-o-y, to just 49,745 units. This reflected the collapse in demand during H1FY12, following the government's decision to implement a 16% general sales tax on tractor purchases, which was later reduced to 5% as of January 2012. Since this time, tractor sales have rebounded strongly, from a year-low of just 369 tractors sold in January 2012, back up to 8,368 tractors sold in June 2012. However, with the government still planning to increase GST on tractors to 10% in 2013 and then to 16% in 2014, it remains to be seen what effect these staggered tax hikes will have on tractor sales over the medium term.

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