PAMA Reports Record Car Sales for June 2024

Jawad

11 Jul 2024

466

PAMA Reports Record Car Sales for June 2024

Car sales in Pakistan have shown robust performance in recent months, indicating a promising recovery trajectory despite high and stable prices. May 2024 witnessed significant growth, and June 2024 continued this upward trend.

Car Sales Surge

According to the Pakistan Automotive Manufacturers Association (PAMA), month-on-month (MoM) car sales surged by 21% in June 2024, totaling 13,284 vehicles compared to 10,949 in May 2024. Year-on-year (YoY) sales also saw an impressive growth of 120%, with 13,284 cars sold compared to 6,033 in June last year. This growth is largely attributed to the stability of the Pakistani Rupee against the US dollar, enabling car manufacturers to achieve substantial sales figures.

Two & Three Wheeler Sales Dip

In contrast, sales of motorcycles and three-wheelers saw a significant decline of 24% in June, totaling 89,895 units compared to 118,811 units in April 2024. Atlas Honda , a key player in this sector, experienced a 22% decrease, selling 80,204 units in June compared to 103,297 units in May 2024. Pak Suzuki also faced a downturn with a 7% decrease, selling 1,570 units last month. These figures highlight the challenges and fluctuations within the motorcycle and three-wheeler market in Pakistan.

Trucks & Buses Witness Growth

The truck and bus segment exhibited a promising 21% increase in sales, with 299 units sold in June compared to 247 units in May 2024. This growth underscores a positive economic outlook and rising demand within Pakistan's commercial vehicle sector.

Company-Specific Performance

Toyota Pakistan reported a significant 44% increase in sales for June, with 2,957 units sold compared to 2,047 units in May 2024. Meanwhile, Honda Atlas experienced an 8% decline, selling 1,097 units last month. Pak Suzuki saw a 15% rise in sales, reaching 6,885 vehicles in June. Hyundai Nishat, on the other hand, achieved a substantial 55% increase, selling 1,059 units during the same period. These contrasting sales figures highlight the varying performance among major automotive manufacturers in Pakistan's competitive market.

Breakdown of Car Sales

PSMC (Pakistan Suzuki Motor Company) topped the charts in individual car model sales for June 2024. They achieved notable figures across various models: Alto led with 4,352 units sold, followed by 526 units of Suzuki Cultus, 372 units of Wagon R, 939 units of Swift, 356 units of Bolan, and 340 units of Ravi. Toyota Indus reported sales of 2,293 units encompassing Corolla and Yaris variants, along with 664 units of Fortuner and Hilux. Honda Atlas focused on 982 units of City and Civic models, alongside 113 units of BR-V. Hyundai Nishat saw sales figures of 196 units for Elantra, 112 units for Sonata, 256 units for Porter, and 495 units for Tucson, reflecting a diverse sales performance across their lineup.

Car Model	May’24	June’24	Difference
Suzuki Alto	4,062	4,352	7%
Suzuki Cultus	229	526	130%
Suzuki Wagon R	253	372	47%
Suzuki Bolan	447	356	-20%
Suzuki Ravi	305	340	11%
Suzuki Swift	714	939	32%
Toyota Corolla & Yaris	1,562	2,293	47%
Toyota Fortuner & Hilux	485	664	37%
Honda City & Civic	1,049	982	-6%
Honda BRV & HRV	138	113	-18%
Hyundai Tucson	298	495	66%
Hyundai Sonata	63	112	78%
Hyundai Elantra	108	196	81%
Hyundai Porter	214	256	20%

Conclusion

The sales data from June 2024 highlights a resilient automotive market in Pakistan, with notable increases in car sales across various manufacturers. This positive trend signifies growing consumer confidence and economic stability, paving the way for continued growth in the automotive sector.

Pakistani car sales June 2024 car sales PAMA car sales report Pakistan automotive trends Motorcycle sales decline Commercial vehicle growth Toyota Pakistan sales Honda Atlas decline Pak Suzuki sales Hyundai Nishat performance

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