PAMA: April 2024 Car Sales Increased by 12%

Jawad

14 May 2024

314

PAMA: April 2024 Car Sales Increased by 12%

Each month, PAMA releases a report on the sales performance of car manufacturers. Despite a persistent decline in the automotive industry over several months, the latest report brings a glimmer of hope as car sales saw a modest increase in the past month. Specifically, the Pakistan Automotive Manufacturers Association (PAMA) noted a 12% rise in month-on-month (MoM) car sales, with 10,515 vehicles sold in April 2024, up from 9,381 in March 2024. This slight uptick is encouraging amid ongoing industry challenges.

Year-on-year (YoY) analysis shows an even more remarkable trend, with a 135% increase in car sales, thanks to the Pakistani Rupee's stability against the US dollar. This significant growth saw 10,515 cars sold in April 2024, compared to just 4,483 during the same period last year. Additionally, motorbike and three-wheeler sales also experienced growth, with a 15% increase last month, reaching 107,590 units, compared to 93,606 in March 2024. Atlas Honda's sales surged by 19%, while Pak Suzuki saw a 5% rise.

In contrast, the truck and bus sector faced a significant decline, with sales dropping by 27% MoM, selling only 229 units in April compared to 312 in March 2024. Company-wise, Toyota Pakistan reported a 21% sales increase, while Honda Atlas experienced a 54% drop. Pak Suzuki Motors, however, enjoyed a 46% increase in sales, and Hyundai Nishat saw an 18% rise. Notably, sales data for Kia Lucky Motors, Master Changan Motors, Regal Motors, MG Motors, and Al-Haj Proton were excluded as they are not PAMA members.

Breaking down car sales, Pakistan Suzuki Motor Company (PSMC) sold various models, including 4,786 units of Alto and 320 units of Suzuki Cultus. Toyota Indus moved 1,722 units of Corolla and Yaris combined, while Honda Atlas sold 956 units of City and Civic. Hyundai Nishat's sales included 111 units of Elantra and 253 units of Tucson.

Car Sales Car Sales April 2024 PAMA Report Sales Incrase Auto Market Vehicle Sales Market Trends Auto Sales Report

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