Local Car Sales Show 69% YoY Growth in December 2024

Wajahat

16 Jan 2025

244

Local Car Sales Show 69% YoY Growth in December 2024

As we wrap up the year, it's time to reflect on the sales trends in Pakistan's automotive market for December 2024. Here's a fresh look at the performance of local car assemblers and two-wheeler manufacturers.

Year-on-Year (YoY) Sales Surge

The automotive industry has witnessed a significant uptick in sales, with a 69% YoY growth for December 2024. Local manufacturers sold 9,820 units in December, a remarkable rise compared to the 5,816 units sold in the same month last year. This surge is attributed to factors such as lower interest rates, the introduction of fresh car models, and better market dynamics.

Month-on-Month (MoM) Sales: A Slight Dip

On a month-to-month basis, the sales numbers showed a small 3% decrease, with 9,820 units sold in December 2024, down from 10,163 units in November. This minor dip is common during certain seasonal periods and doesn't indicate a major shift in demand.

Two-Wheelers: Growth in YoY Sales, but MoM Decline

Motorcycle and three-wheeler sales in December showed a 2% decrease when compared to November 2024. The total sales of two-wheelers for the month stood at 118,091 units, down from 120,484 in November. However, the YoY sales displayed significant progress, marking a 43% increase over last year’s 88,362 units sold in December 2023.

Brand-wise Two-Wheeler Sales Overview:

Brand	December 2024	November 2024	Change (%)
United	11,724	12,085	-3%
Road Prince	1,821	2,214	-18%
Atlas Honda	100,911	100,588	0%
Pak Suzuki	1,870	1,912	-2%
Yamaha	529	539	-1.86%

Commercial Vehicles: A Sharp Decline

The commercial vehicle sector, comprising trucks and buses, experienced a 41% drop in sales in December 2024, with only 193 units sold, down from 328 units the previous month. This significant decrease could be due to factors such as reduced infrastructure spending and slower demand in the commercial transportation sector.

Company-Wise Performance Breakdown

Local car companies experienced mixed results in December 2024. Toyota faced a major 25% decrease in sales, while Honda Atlas saw stable sales figures. Pak Suzuki Motors recorded a notable increase of 12%, while Hyundai Nishat saw a 27% rise in sales. However, certain brands like Kia, Changan, and others were not included in the report, as they are not part of the Pakistan Automotive Manufacturers Association (PAMA).

Local Car Brands and Their Sales:

Company	December 2024 Sales	November 2024 Sales	Change (%)
Toyota	1,655	2,194	-25%
Honda Atlas	1,110	1,112	0%
Pak Suzuki	6,016	5,374	+12%
Hyundai Nishat	918	724	+27%

Model-Wise Performance: Key Variants in Focus

Some car models witnessed noteworthy changes in their sales performance, reflecting market preferences and consumer demand.

Car Model	December 2024 Sales	November 2024 Sales	Change (%)
Suzuki Alto	4,115	2,756	+49%
Suzuki Cultus	322	179	+80%
Suzuki Wagon R	220	202	+9%
Suzuki Swift	668	917	-27%
Toyota Corolla & Toyota Yaris	1,156	1,822	-37%
Toyota Fortuner & Toyota Hilux	499	372	+34%
Honda City & Honda Civic	970	1,010	-4%
Hyundai Tucson	319	161	+98%

Conclusion: A Mixed Bag for December 2024

The automotive industry in Pakistan displayed a solid performance in December 2024, driven largely by YoY growth and continued consumer interest in new models and variants. However, month-on-month declines and commercial vehicle downturns suggest that the market could be facing challenges in sustaining its growth momentum in the coming months.

Key factors such as interest rates, consumer confidence, and the availability of new variants will play a critical role in determining the market trajectory in early 2025. Local manufacturers will need to adapt quickly to market trends and ensure they offer attractive deals to maintain sales figures.

Local car sales YoY growth Pakistan automotive sales December 2024 car sales increase local car market automotive trends December sales report Pak Suzuki sales Hyundai sales growth

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