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Home BUSINESS Output of light commercial vehicles goes down 25.59% in 4 months

Output of light commercial vehicles goes down 25.59% in 4 months

ISLAMABAD (APP): The production of light commercial vehicles (LCVs) witnessed 25.59 percent decrease during the first four months of the financial year 2020-21 against the output of the same period of last fiscal year, official data revealed. As many as 4,929 LCVs were manufactured during July-October (2020-21) as compared to the production of 6,624 units during July-October (2019-20), showing decline of 25.59 percent, according to Pakistan Bureau of Statistics (PBS).
During the period under review, the production of cars and jeeps witnessed 12.12 percent decrease as it declined from 47,275 units last year to 41,544 units during 2020-21. The production of motorcycles during the period under review however witnessed increase of 15.55 percent by going up from the output of 701,905 units last year to 811,018 units during 2020-21.
The production of trucks decreased from 1,175 units last year to 1,052 units, showing decline of 10.47 percent while the production of tractors however witnessed positive growth of 13.03 percent, from 13,478 units to 15,234 units. The production of buses during the period under review witnessed negative growth of 22.71 percent by declining from the output of 207 units to 160 units. Meanwhile, on year-on-year basis, the production of LCVs rose by 8.05 percent, from 1,130 units in October 2019 to 1221 units in October 2020.
The production of jeeps and cars also by 20.
62 percent by going up from 10,210 units in October 2019 to 12,315 in October 2020 while the production of motorcycles also increased by 8.02 percent from the output Of 205,755 units to 222,253 units.
The production of tractors witnessed negative growth of 20.95 percent by declining from 358 units in October 2019 to 283 units in October 2020, the production of buses decreased by 30 percent from the output of 50 units to 35 units in October 2020.
However, the production of tractor increased by 2.24.percent from 3,889 units to 3,976 units.
It is pertinent to mention here that the overall output of Large Scale Manufacturing Industries (LSMI) in the country during the first four months of financial year 2020-21 witnessed positive growth of 5.46 as compared to the output of the corresponding period of last year.
LSMI Quantum Index Number (QIM) was recorded at 136.08 points during July-October (2020-21) against 129.04 points during July-October (2019-20), showing growth of 5.46 percent, according to the data released by the Pakistan Bureau of Statistics (PBS).
The highest increase of 3.74 percent was witnessed in the indices monitored by the Ministry of Industries, followed by 1.63 percent in the products monitored by the Provincial board of Statistics (BOS) and an increase of 0.10 percent was witnessed in the indices monitored by the Oil Companies Advisory Committee (OCAC).

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