Karachi, December 10, 2024 – Pakistan’s car sales surged by an impressive 50% year-on-year (YoY) in the first five months (July-November) of fiscal year 2024-25, according to data released by the Pakistan Automotive Manufacturing Association (PAMA) on Tuesday. Total sales reached 50,516 units during this period, up from 33,638 units in the same period last fiscal year.
November 2024 Performance
In November 2024, car sales stood at 9,823 units, marking a 25% month-on-month (MoM) decrease but a robust 52% YoY increase, as reported by Arif Habib Limited. The MoM decline is attributed to the high base effect from October’s sales of 13,100 units and seasonal year-end market dynamics. However, the YoY growth reflects factors such as lower financing rates, improved economic indicators, a low base effect, and the launch of new car models.
Segment-Wise Breakdown
• 1,300cc and Above: Sales dropped 2% MoM to 3,930 units.
• 1,000cc Segment: Recorded a significant 33% MoM decrease, with 381 units sold.
• Below 1,000cc Segment: Fell 40% MoM, totaling 3,598 units.
PAMA also reported the addition of an electric vehicle (EV) category, with Dewan Motors’ Honri VE achieving 63 units sold in November.
Major Manufacturer Insights
Indus Motor Company (INDU): Sales fell 27% MoM to 1,854 units, primarily due to a 93% decline in Fortuner and Hilux sales. Corolla, Yaris, and Corolla Cross also saw a combined 13% MoM decline.
Pak Suzuki Motor Company (PSMC): Recorded a 33% MoM drop, with 4,738 units sold. Notable declines included an 80% MoM drop in Bolan sales and reductions in Cultus (48%), Wagon R (11%), and Alto (41%). However, Swift and Every models surged by 178% and 147% MoM, respectively.
Honda Atlas Cars (HCAR): Reported a 27% MoM decline in overall sales, with Civic/City models dropping 29%. However, HR-V/BR-V sales rose by 6% MoM.
Sazgar Engineering (SAZEW): Sales decreased by 42% MoM to 584 units, with Haval models accounting for the decline.
Two-Wheelers and Tractors
Two-wheeler sales dropped by 13% MoM in November, with Atlas Honda selling 100,588 units. Tractor sales soared 98% MoM, driven by a 584% surge in AGTL’s sales to 2,012 units, supported by the Punjab Green Tractor Scheme.
The overall growth in car sales showcases a recovering auto sector, buoyed by favorable policies and consumer demand, despite periodic fluctuations in specific segments.