Tag: Monthly sales

  • Pakistan’s cement exports fell by 82.15 per cent in April 2022

    Pakistan’s cement exports fell by 82.15 per cent in April 2022

    Owing to unpredictable economic and political conditions, cement sales remained weak last month and between July and April 2021-22 (10MFY22), according to All Pakistan Cement Manufacturers Association (APCMA).

    The sector shipped 3.37 million tonnes of local cement in April 2022, down 17 per cent from 4.06 million tonnes in April 2021, while exports dropped 82.15 per cent from 877,163 tonnes in April 2021 to 156,613 tonnes in April 2022.

    As a result, overall cement sales including local and exports plummeted by 28.6 per cent in April 2022 to 3.52 million tonnes, down from 4.94 million tonnes in April 2021, as per APCMA data.

    North-based cement mills sold 2.8 million tonnes in domestic markets in April 2022, down 17 per cent from 3.3 million tonnes in April 2021. Exports from northern mills declined 75.22 per cent in April 2021, from 250,072 tonnes to 61,971 tonnes.

    According to data from the State Bank of Pakistan (SBP), banks granted Rs180 billion in housing loans in 10MFY22, with Rs57 billion disbursed over the same time. Housing loan applications of Rs409 billion had been received by banks.

    The political and economic instability of March had begun to deter investors in the construction industry, as seen by the APCMA’s domestic April sales figures.

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    Moreover, high lending rates of 12.25 per cent effective April 7 and the risk of further rate hikes will impact construction activity, while consumers are already under pressure due to increased living costs, with the CPI for April at 13.37 per cent.

    Owing to record high prices for steel bars, cement, and other construction supplies, people are also cautious to make new investments in building new homes.

  • Honda to discontinue Insight next year, confirms production of Civic and CR-V hybrid

    Honda to discontinue Insight next year, confirms production of Civic and CR-V hybrid

    The Honda Insight will be phased out of production in 2023 as the company intends to concentrate on key hybrid versions, including the upcoming CR-V and Accord hybrids. Honda will also offer a new Civic Hybrid to replace the Insight under the new plan.

    Honda Insight will be phased out in June, but the Japanese automaker has not announced when the Civic substitute will arrive, only that it will appear at some point in the future. Honda’s other hybrids, on the other hand, will not take long to arrive. The manufacturer will release the CR-V Hybrid later this year, followed by the Accord Hybrid. According to Honda, hybrids will account for 50 per cent of each model’s sales mix.

    The auto giant debuted the Civic in Europe last month, bringing the 11th-generation model to the continent. It’s unknown how comparable the Civic Hybrid in the United States will be to the global model, but it could give a sense of what to anticipate. The Civic e:HEV produces 181 horsepower (135 kilowatts) and 232 pound-feet (315 Newton-meters) of torque thanks to a 2.0-liter Atkinson-cycle engine and two electric motors. It will be available in Europe this fall.

    After a five-year absence, Honda reintroduced the current-generation Insight for 2019. It came with a 1.5-liter engine and two electric motors that produced 151 horsepower (112 kW) and torque of 191 lb-ft (258 Nm). It was built on the previous-generation Civic, but it was placed slightly higher in Honda’s lineup than the famous passenger vehicle. Since 2018, Honda has sold over 70,000 third-generation Insight hybrids.

    Read more: Hyundai Pakistan launches another variant of obsolete Elantra

    Honda Insight has been there for 23 years, so it may not be gone forever from Honda’s range. The new model will most likely debut with the CR-V Hybrid later this year.

    The prevailing Honda Accord was debuted for the 2018 model year, and it is expected to receive a mid-cycle refresh that would update the complete portfolio, including the hybrid model.