The lockdowns due to COVID-19 imposed by the federal and provincial governments in the later half of Mar-2020 till date has resulted in no car sales during Apr-2020, as reported by PAMA.
The lockdowns have resulted in closure of plant operations along with car dealerships across the country.
As a result, in 10MFY20 car sales have declined by 52% YoY. Honda Car (HCAR) sales are down by 64% YoY, followed by Indus Motors (INDU) and Pak Suzuki Motor Company (PSMC) with declines of 54% YoY and 47% YoY, respectively.
The nominal sales of ATLH (motorcycles) were also 2,783, while COVID’s previous sales were about 100,000.
Considering the importance of the wheat harvest season, the government allowed the tractor industry to resume operations in mid-April 2020.
In March 2020, tractor sales fell 63% year-on-year and 30% month-on-month.
The trend in May 2020 is similar because the restrictions of automakers and dealers have not been relaxed.