Motorcycle sales record 3.11pc dip in FY2023: PAMA

Pakistan recorded drop of 3.11pc in the motorcycle sales in FY2023-24, Pakistan Automotive Manufacturers Association (PAMA) said in its latest report.

The report said that total units sold dropped to 1.15 million from 1.19 million in the previous fiscal year.

However, June 2024 saw a year-on-year sales increase of 8.38 per cent. Despite this monthly improvement, a significant month-on-month decline of 24.34 per cent was recorded, reflecting the volatile nature of the market.

This marks the third consecutive fiscal year of declining sales, with figures reaching almost a 10-year low in FY24.

Production trends mirrored sales figures, with total production of motorcycles and three-wheelers also recorded at 1.15 million units in FY24, marking a decrease of approximately 3 per cent compared to FY23. In June 2024, production stood at 87,844 units, representing a 9.94 per cent increase from June 2023, but a steep 27.14 per cent drop from May 2024.

During July-April 2023-24, as many as 941,406 motorbikes and three-wheelers were sold against the sale of 1,006,839 units in July-April (2022-23), according to the Pakistan Automobile Manufacturing Association (PAMA).