Output of LCVs declines 4.28pc in five months

ISLAMABAD: Light commercial vehicle (light commercial vehicle) production decreased by 4.28 percent in the first five months of the 2020-21 fiscal year compared to the same period of the previous fiscal year.

According to the Pakistan Bureau of Statistics (PBS), 6,957 light commercial vehicles were produced between July-November (2020-21), down 4.28 percent, compared to 7,268 units in July-November (2019-20). ).

During the period under review, production of automobiles and jeeps saw a nominal drop of 1.11 percent as it fell from 54,382 units last year to 53,779 units in 2020-21. However, in the period under review, motorcycle production saw an increase of 16.35 percent, from 889,847 units last year to 1035,294 units in 2020-21. Truck production fell 10.41 percent from 1,480 units to 1,326 units last year, but tractor production grew positive by 19.83 percent from 15,890 units to 19,041 units. During the period under review, bus production fell from 271 units to 233, witnessing negative growth of 14.02 percent.

Meanwhile, light commercial vehicle production increased from 644 in November 2019 to 2028 in November 2020, while light commercial vehicle production increased by 214.91 percent on an annual basis and increased by 72.15 percent in November 2020. While the production of 7,197 units in November 2019 reached 12,235 in November 2020, motorcycle production increased by 20.09 percent from 187,942 units to 225,706 units.

While tractor production increased from 2412 units in November 2019 to 3807 units in November 2020, it witnessed a growth of 57.84%, while bus production increased 14.06% from 64 to 73 units in November 2020. However, truck production fell 10.16 percent from 305 to 374.

It is pertinent to note here that the overall output of Large Scale Manufacturing Industries (LSMI) in the country in the first five months of fiscal year 2020-21 witnessed a positive growth of 7.41 compared to the output of the same period last year. . According to data published by Pakistan, LSMI Quantum Index Number (QIM) was recorded at 138.52 points in July-November (2020-21) against 128.97 points in July-November (2019-20) period and increased 7.41 percent. Bureau of Statistics (PBS). The highest increase was in the indices monitored by the Ministry of Industry with 5.46 percent, followed by 1.85 percent in the products monitored by the Provincial Statistics Board (BOS), and the indexes monitored by 0.09 percent. By the Petroleum Companies Advisory Committee (OCAC).

Updated: January 21, 2021 — 7:14 pm

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