Car sales surge in Pakistan with significant annual increase
- By Web Desk -
- Nov 11, 2024
Car sales in Pakistan have experienced a remarkable 112 percent year-on-year increase, this surge highlights a significant recovery in the automotive sector, with a notable rise in vehicle sales across the country, ARY News reported.
The Pakistan Automotive Manufacturers Association (PAMA) has issued new statistics indicating a strong boost in car sales.
The report specifies that in the first four months of the current fiscal year, there has been a 50pc increase in vehicle sales, with 40,693 units sold compared to 27,162 units in the same period last year.
In October 2024 alone, sales soared to 13,108 vehicles, marking a remarkable 112pc increase compared to 6,180 vehicles sold in October 2023. Month-on-month, a 27pc rise in sales was observed compared to September 2024.
Additionally, PAMA reported the sale of 137,693 motorcycles and rickshaws in October 2024. Tractor sales also surged by 61%, with 1,733 units sold, showcasing a strong overall performance in the automotive sector.
Read More: Car sale in Pakistan: new statistics released
Back in 2023, Pakistan witnessed a 4pc decrease on an annual basis in car sales in the first quarter of the year, whereas, an increase of 10pc was recorded on a monthly basis in September.
The statistics issued by the All Pakistan Auto Manufacturers Association stated that overall 20,983 cars were sold across Pakistan from July to September 2023 which is 40pc less than the count in the previous fiscal year.
In 2022, a total of 35,002 units were sold during the first quarter. 8,312 units were sold across the country in September 2023, recording a drop of 26pc as compared to September 2022.
In September 2022, 11,288 units were sold, whereas, a 10pc increase was recorded on a monthly basis in the sale in September 2023 as compared to August. 7,579 units were sold in August which was increased to 8,312 in September.
The statistics stated that Pak Suzuki sold 10,946 units in the first quarter, which was 34pc less than 16,639 units in the previous fiscal year.
During the first quarter, the sale of 4,511 units of Indus Motor was recorded, which was 49pc less than 8,868 as compared to the year 2022. Meanwhile, 2,510 units were sold by the Honda Atlas, which was reduced by 55pc as compared to 2022. Honda Atlas had sold 5,626 in the same period in FY2022-23.
Hyundai Nishat Motor sold 2,167 units which dropped by 30pc as compared to the previous FY. The automaker had sold 3,097 units in the same period of FY2022-23.