Motorcycles production falls 10pc to 1.6mn units in 8 months

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ISLAMABAD: The manufacturing of motorcycles witnessed a decrease of 10.01 percent throughout the primary 8 months of the modern-day financial year compared to the corresponding duration of the last yr. As many as 1,671,346 motorcycles have been synthetic during July-February (2018-19).

Motorcycles production

Manufacturing of 1,857,210 units all through July-February (2017-18), in step with Pakistan Bureau of Statistics (PBS). The manufacturing of motors and jeeps at some stage in the period under evaluation, but witnessed 1.28 percent boom as 156,720 jeeps and automobiles have been manufactured during the contemporary year in comparison to 154.732 devices closing year. The production of mild industrial automobiles (LCVs) witnessed a lower of 12.78 percentage in manufacturing in the course of the length below review with the aid of taking place from 19,907 gadgets ultimate 12 months to 17,363 LCVs at some point of 2018-19. The manufacturing of vans also decreased from 6,081 devices remaining yr to four,679 gadgets, showing a decline of 23.06 percentage whilst tractors’ manufacturing decreased through 30.05 percentage, from four,5576 units to 31,879 units. In the course of the duration beneath evaluation, the manufacturing of buses witnessed fantastic growth of 23—sixty-one percent via going up from 487 gadgets to 602 units.

Meanwhile, on a year-on-yr foundation, bikes’ production reduced by 14.80 percentage for the duration of February 2019 compared to February 2018. The motorcycle production throughout February 2019 changed into recorded at 185,588 devices compared to 217,838 devices in February 2018. The manufacturing of jeeps and vehicles decreased by way of 1.98 percent, from 18,573 gadgets in the course of February 2018 to 18,206 devices in February 2019. The manufacturing of tractors also witnessed the terrible boom of 35.27 percent by way of declining from 6,543 devices in February 2018 to 4,235 gadgets in February 2019; the manufacturing of trucks decreased by using 39.69 percent from the output of 703 gadgets to 424 units in February 2019 while the manufacturing of buses reduced by using 50 percentage from fifty-two devices to 26 gadgets.

It is pertinent to say here that the Large Scale Manufacturing Industries (LSMI) production has witnessed a decline.72 percentage in the course of the first 8 months of the contemporary financial 12 months compared to last year’s corresponding duration. LSMI Quantum Index Number (QIM) becomes recorded at 143.25 factors for the duration of July-February (2018-19) against a hundred forty-five. Seventy-six factors at some point of July-February (2017-18), showing negative growth of one. Seventy-two percentage, in line with the present-day data released through the Pakistan Bureau of Statistics (PBS) on Friday. The highest decrease of 1. Sixty-three percent became witnessed inside the indices monitored using the Ministry of Industries, followed by a 0.34 percentage bad increase in the products monitored using the Oil Companies Advisory Committee (OCAC). However, the Provincial Board of Statistics’ indices monitored high-quality growth of 0.25 percent.

On a yr-on-12 months basis, the economic boom additionally decreased by 1. Forty-nine percentage in February 2019 compared to the same month of last year, which, the commercial increase witnessed a lower of while month-on-month basis five. Eleven percent in February 2019 when compared to boom in the course of January 2018, the PBS records discovered. In most cases, not exactly, if you look into the details of your purchased motorcycle insurance policy. The reason is that most full coverage motorcycle insurance policies will cover total loss such as theft, accident, or natural disaster. Still, these policies typically only cover the depreciated market value of the motorcycle, not the outstanding value of your motorcycle loan.

Therefore, if you opted for a zero down payment motorcycle loan or perhaps a low payment credit card motorcycle loan, your Suzuki GSX-R1000 may have depreciated faster than you have paid down the value on your motorcycle loan. Since your motorcycle insurance policy will most likely only cover the depreciated market value of your Suzuki GSX-R1000, you are responsible for the difference in the value the insurance company pays you for your stolen or totaled motorcycle and what you actually owe on your motorcycle loan.

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