October Car Sales in Pakistan Rise by 27%, According to PAMA

Jawad

12 Nov 2024

247

October Car Sales in Pakistan Rise by 27%, According to PAMA

October 2024 proved to be a record-breaking month for local car assemblers in Pakistan, with significant sales growth across the industry. The latest report from the Pakistan Automotive Manufacturers Association (PAMA) revealed impressive figures, showing a detailed comparison in car sales among local manufacturers. Following an 18% increase in September 2024, October saw an even greater surge of 27%, with 13,108 units sold compared to 10,297 in September. This year-on-year comparison highlights a 112% growth from October 2023, when only 6,180 units were sold.

Motorcycles and Three-Wheelers on the Rise

The local market for motorcycles and three-wheelers also experienced robust growth, with a 5% month-on-month increase in October 2024. Sales reached 137,693 units, marking a notable 35% increase from the 101,976 units sold in October 2023. Atlas Honda led the sector with a 5% monthly increase, selling 115,293 units compared to 110,139 in September. Pak Suzuki followed with a 6% rise, recording 2,182 bike sales in October. The increasing demand for two-wheelers is likely driven by rising fuel costs and a need for affordable transportation.

Trucks and Buses Maintain Growth

The heavy vehicle sector also showed positive momentum. In October 2024, sales of trucks and buses rose by 10%, with 351 units sold, up from 319 units in September. This consistent demand reflects a healthy market for commercial vehicles, which play a critical role in Pakistan's transportation and logistics sectors. The sustained increase in sales of heavy vehicles may suggest growing business investments and economic activity across the country.

Company-Specific Car Sales Insights

October was a strong month for several major car brands. Toyota Pakistan’s sales grew by 7%, with 2,532 units sold, while Honda Atlas saw a substantial 19% rise, reaching 1,514 units. Pak Suzuki Motors recorded the highest growth at 40%, selling 7,040 vehicles. In contrast, Hyundai Nishat experienced a decline of 26%, with sales dropping from 677 to 504 units. Sazgar Engineering reported a 21% increase, with 999 cars sold. It’s noteworthy that brands like Kia Lucky Motors, Master Changan Motors, and others are not included in the report as they are not PAMA members.

Breakdown by Car Model

Among specific car models, Pakistan Suzuki Motor Company (PSMC) sold 4,685 units of the Alto, followed by 343 units of the Cultus, 226 units of the Wagon R, and 330 units of the Swift. Additionally, Toyota Indus sold 2,101 units of Corolla and Yaris combined, along with 431 units of Fortuner and Hilux. Honda Atlas contributed with 1,148 units of City and Civic, while Hyundai Nishat reported sales of 105 units of Elantra, 43 units of Sonata, 245 units of Porter, and 111 units of Tucson. This breakdown reveals the popularity of certain models, with small cars and SUVs holding a significant share in the market.

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