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Articles for tag: car, January, rose, sales, yearonyear

February 14, 2024

News Desk

Car sales rose 30% year-on-year in January

Sales remained down 49 percent in the first seven months of the fiscal year, data showed Workers assemble cars inside the Hyundai Motor India Ltd factory. in Kancheepuram district in the southern Indian state of Tamil Nadu, October 4, 2012. — Reuters/File Passenger car sales rose 30% in January 2024 to 7,802 units. In the first 7 months of ’24, 38,464 units were sold. January sales were up 59% compared to December 2023. Islamabad: Car sales rose 30% in January this year compared to the same month last year, boosted by a low base and the launch of new models,

February 4, 2024

News Desk

The auto industry expects sales to pick up after the election

KARACHI: Car prices are expected to stabilize and a cut in interest rates after the 2024 general election is expected to boost sales, according to forecasts from parts sellers and car dealers. “There is no hope of a reduction in car prices as inflation has reached around 30% this time, while the exchange rate has reached Rs 280 and is now stable. First, I hope car prices don’t go up in 2024, as the current account is already balanced and things are better macro-wise. Second, interest rates are expected to fall by 5% to 6% in the coming months. Falling

January 26, 2024

News Desk

Tesla shares fall as sales decline due to competition

Tesla has warned of a slowdown, which it believes reflects declining demand for electric vehicles worldwide Tesla CEO Elon Musk. — AFP/File Tesla stock fell more than 12% on Thursday after the company said its sales growth this year will be slower than in 2023. BBC mentionted. This reduced Tesla’s market value by almost $80 billion. Despite lower prices, Tesla Motors CEO Elon Musk said its sales growth “may be significantly lower” in 2024. The automaker’s quarterly results, released Wednesday, also fell short of Wall Street forecasts. The company is cutting prices in key global regions such as China and

January 17, 2024

News Desk

DAP fertilizer sales up 31%, urea stagnant

LAHORE: In Pakistan’s agricultural landscape, the fertilizer sector is experiencing a remarkable shift as diammonium phosphates (DAP) take the lead with a significant 31% increase in uptake in Calendar Year 2023. In contrast, urea, a key fertilizer for farmers, showed marginal growth, remaining essentially stagnant over the same period. According to Optimus Capital Management, urea intakes for CY23 reached 6,642 Kilo Tonnes (KT), a modest increase from 6,612 KT in CY22. Meanwhile, DAP withdrawals for CY23 showed a significant increase, reaching 1,576 KT compared to 1,201 KT in CY22. Breaking down total availability, including local production and imports, urea recorded

December 21, 2023

News Desk

US New Car Sales Set to Increase for 2024 — What Does This Mean for America’s Auto Industry Revival?

Auto data firm forecasts expect year-over-year growth of between 1% and 4% Cars that have not been sold due to the slowdown in the auto market are seen stored in the parking lot of the Wells Fargo Center in Philadelphia, Pennsylvania, U.S., April 28, 2020.—Reuters Forecasts show marginal growth in US new vehicle sales next year as the auto industry tries to recover from disruptions caused by the Covid-19 pandemic and ongoing supply chain challenges from 2020. Forecasts from prominent auto data companies expect an annual increase of between 1% and 4%, with estimated sales reaching around 15.6 million to

November 24, 2023

News Desk

How to save the most money in one of the ‘best sales seasons in years’

The holiday shopping market is abuzz with sales starting at 30% off, covering everything from clothing to electronics People shop during a Black Friday sale event at Macy’s flagship store in the U.S. November 22, 2018.—Reuters Holiday shoppers are in for a treat this season, with Ted Rossman, senior industry analyst at Bankrate and CreditCards.com declaring it the “best sales season in years.” The market is flooded with generous discounts, starting from 30%, covering various items from clothes to electronics. However, caution is advised as some discounts may involve inflated prices and the best prices throughout the year may not

November 5, 2023

News Desk

Bike dealers are demanding price cuts as sales plummet

KARACHI: Motorcycle sales have fallen by 80% due to high inflation, prompting dealers to appeal to bike assemblers and car parts sellers to cut prices, taking into account the declining purchasing power of customers. “We are looking for motorcycle buyers as sales of all bikes have fallen. Recently, the US dollar has depreciated significantly against the Pakistani rupee and petrol prices have also come down, but customers are yet to get any relief,” Karachi Motorcycle Dealers Association President Mohammad Ahsan Gujjar told The Express Tribune . “About 30,000 motorcycles were sold in a month in Karachi and now we are

November 3, 2023

News Desk

Oil sales rose 25% in October

KARACHI: Demand for petroleum products rose 25% to 1.26 million tonnes in October 2023 compared to the previous month, fueled by lower prices and a gradual improvement in economic activities. The rise in demand for petroleum products is a sign of recovery in Pakistan’s gross domestic product (GDP), which reflects the central bank’s forecast of moderate economic growth of 2-3% in the current financial year. Last year, the economy grew a paltry 0.3%. Large-scale manufacturing (LSM) and the agriculture sector, which are the top consumers of petroleum products, remained on an upward trend as their production levels increased. This also

April 28, 2023

The Pakistan Daily

Pakistan urges US to restore military financing, sales

Pakistan’s Ambassador to the United States Masood Khan says after a brief period of uncertainty, Pakistan and US are successfully recalibrating and rejuvenating relations in the wake of changing circumstances. Addressing a conference on “The Future of Pakistan-US relations” at renowned US thin-tank Wilson Centre in Washington terming Pak-US ties as “a relationship of the future generations”, he said the results in a short span of time are impressive. Referring to frequent high-level contacts between Foreign Minister Bilawal Bhutto Zardari and U.S. Secretary of State Anthony Blinken, Pak-US dialogues on health, energy, climate change, counter-narcotics, counterterrorism and defence and the

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