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June car registrations hit all-time high
Lower tariffs on hybrids and electric vehicles contribute to continued rise
Vehicle registrations in June doubled to 55,624 from 28,385 year-on-year (yoy) backed by an all-time high registration of cars, according to a data compilation by JB Securities (Pvt) Ltd.
Total car registrations hit 7,641, up from 2,256 yoy and the previous all time high of 6,018 in May.
Brand new registrations accounted for 4,358 units in June up from 689 yoy and 3,228 in May. Maruti accounted for 3,470 with Altos making up 3,148 of it, while 545 Micro Pandas and 101 Tata Nano Twists and Indicas were also recorded. Small car financing share was 70 percent.
Pre-owned car registrations increased to 3,283 from 1,567 yoy and 2,790 in May. Toyota accounted for 1,557 units, Honda for 785 unit, Suzuki for 637 and Nissan for 251 units.Of the pre-owned cars, hybrids accounted for 2,877 units. Electric car registrations increased to 255 from 10 yoy and 361 in May.
Nissan Leafs accounted for 250, while the total number of electric cars registered in the country has now increased to 937 with Leafs accounting for over 95 percent of the market.
Lower tariffs on hybrids and electric vehicles contributed to the continued rise. BMW has seen the potential and announced their entry to the local electric car market
this month.Total hybrids registered were 3,377, increasing from 1,491 yoy and 2,756 in May. Toyota claimed the lead with 1,451 units, 870 of which were Aquas, 346 Axios and 225 Priuses. Honda came second with 784 units, 621 of which were Fits, while Suzuki recorded 617 units of WagonR. Financing share fell to 71.4 percent. The SUV and crossover segment registrations increased to 740 from 647 yoy and 695 in May. Honda maintained the lead with 288 registrations, 268 of which were Vezels. Toyota accounted for 152 registrations with 116 Prados, and Mitsubishi accounted for 144 units. Financing was 61.6 percent. Van registrations increased to 1,073 units from 162 yoy and 914 units in May. Mini vans accounted for 488 units, with 364 Suzukis and normal vans accounted for 585. Toyota had 463 registrations while Nissan had 99.
Three-wheeler volumes increased to 11,349 from 6,150 yoy and 10,995 in May. Bajaj maintained its strong market share at 90.7 percent followed equally by Piaggio and TVS with 6.9 percent and 6.4 percent share respectively. Financing share was 90.7 percent.
Many purchases were for personal use rather than for taxi business purposes, according to JB Securities CEO Murtaza Jafferjee.
Two-wheeler registrations jumped to 30,222 from 16,679 yoy and 25,580 in May. In terms of brand share Bajaj claimed 38.2 percent, Honda 23.2 percent, Hero 18.4 percent and TVS 12 percent. Financing share was 57.3 percent.
Jafferjee said that the financing shows volumes being driven by retail sales instead of government handouts.
Pickup trucks recorded 383 units, up from 184 yoy and 350 units in May with 210 Tata units and 102 Toyotas, while mini truck registrations increased to 1,567 from 1,079 yoy and 1,315 in May with 838 Tata and 572 Mahendra units.
Bus volumes increased to 188 from 148 yoy, while falling from 266 in May. Financing share increased to 93.1 percent closer to its normal levels, indicative of absence of government purchases, Jafferjee said.
He said that traffic congestion, and the increased import of fuel caused by growing registrations will adversely impact the economy. (CW)
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