In a historic first for Pakistan, the country saw 63 electric vehicles (EVs) sold in November 2024. This achievement includes the Honri VE, launched by Dewan Motors, which played a key role in reaching this milestone.
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Pakistan Marks Historic EV Sales of 63 Units in Nov 2024
For the first time in Pakistan’s history, the country recorded the sales of 63 electric vehicles (EVs) in November 2024. This milestone includes the Honri VE, introduced by Dewan Motors, which was pivotal in achieving this figure.
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Pakistan Auto Makers Concerned Over 680% Surge in Car Imports
Karachi, February 29, 2024 – Auto manufacturers in Pakistan are sounding alarms over a staggering 680% surge in car imports during the first six months of the current fiscal year, raising fears of a collapse in the domestic industry.
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Pakistan Car Assemblers Protest Against Sales Tax Increase
Karachi, February 16, 2024 – Car assemblers in Pakistan are up in arms over the recent government decision to raise the sales tax on locally manufactured vehicles.
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Local automakers raise concerns over regulatory duty removal
Local automakers in Pakistan have expressed deep concerns following the government’s decision to remove the regulatory duty (RD) on imported luxury vehicles.
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Pakistan car sales climb up 54% in March 2023 over previous month
Pakistan car sales have climbed up by 54 per cent in March 2023 over previous month of February 2023, said analysts.
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Pakistan car sales drop in 1HFY23 amid halt in production
KARACHI: Pakistan car sales have dropped by 38 per cent during first half of the current fiscal year 2022-2023 due to non-production days due to shortage of raw material because of import restrictions.
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Pakistan’s passenger car sales drop 39pc in 5MFY23
KARACHI: Pakistan’s domestic car sales have recorded a drop of 39 per cent in the first five months (July – November) of fiscal year 2022-2023.
According to latest date released by Pakistan Auto Manufacturers Association (PAMA), the sales of passenger cars fell to 55,144 units in the first five months of the current fiscal year as compared with 90,303 units in the corresponding period of the last fiscal year.
READ MORE: Pakistan car sales increase 21 pc in October 2022
The sales of cars with engine capacity of 1,000 cc recorded major decline of 68 per cent to 6,987 units in the first five months of the current fiscal year as compared with 21,873 units in the same period of the last fiscal year.
Similarly, the sales of cars with 1,300CC and above engine capacity recorded 36 per cent decline to 24,465 units during the period under review when compared with 40,036 units in the corresponding period of the last fiscal year.
READ MORE: Pakistan car sales plunge 50% in 1QFY23
Meanwhile, the sales of cars below 1,000 CC recorded a decline of 20 per cent to 22,692 units during the first five months of the current fiscal year as compared with 28,394 units in the same period of the last fiscal year.
The sales of LCVs, vans and jeeps recorded a decline of 38 per cent to 11,314 units during the period of July – November 2022 when compared with 18,332 units in the corresponding period of the last fiscal year.
The car sales in the month of November 2022 recorded 39 per cent to 15,444 units when compared with 11,129 units in October 2022.
READ MORE: Pakistan car sales plummet by 50% on import restriction
Analysts at Arif Habib Limited attributed the recovery in sales volume on an MoM basis was mainly due to the fulfillment of the delivery of vehicles on the backlog of demand and consumers moving toward affordable vehicles resulting in PSMC sales climbing up by 74 per cent MoM.
They further attributed to streamlining production process by auto assemblers through improved inventory management processes and higher operating days.
However, further PKR volatility and increase in international commodity prices still remain a serious concern for the automobile sector.
They said 1,300cc segment and above showed a growth in sales by 22 per cent MoM. Given the sales of Civic and City went up by 10 per cent MoM. In addition, the sales of Corolla and Yaris portrayed a rise of 5 per cent MoM.
Alternatively, we observed a dip in 1,000cc segment sales by 2 per cent MoM, led by the rise in Wagon R sales whose sales went down by 7 per cent MoM to 718 units.
READ MORE: Pakistan car sales drop 59% in July 2022
Sales in the below 1000cc segment majorly contributed to the rise in sales 74 per cent MoM. The major contributor remained Alto which went up by 74 per cent MoM to 7,255 units.
Indus Motors sales went down by 4 per cent MoM, given sales of Fortuner and Hilux declined by 15 per cent MoM to 1,309 units.
Pakistan Suzuki sales depicted an increase of 55 per cent MoM as consumers switched towards affordable cars.
Honda Car sales surged by 38 per cent MoM, since the launch of HRV grabbed the attention of car enthusiasts and came into the limelight. With this, the overall BRV and HRV sales depicted a jump of 8.6x MoM.
During November 2022, the Tractors sales went down 34 per cent MoM, majorly contributed by AGTL, whose sales went down by 65 per cent MoM. In addition, MTL sales went down by 27 per cent MoM.
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Pakistan car sales drop 59% in July 2022
KARACHI: The total sales of car in Pakistan have dropped by 59 per cent Month on Month (MoM) in July 2022.
The sales are also included non-members of Pakistan Automotive Manufacturers Association (PAMA).
READ MORE: Pakistan car sales surge 54 per cent in FY22
Analysts at Topline Securities on Friday said Pakistan car sales (including sales of Non-PAMA members) clocked in at around 14,000 units down 59 per cent MoM primarily due to production issues, higher car prices resulting low purchasing power of consumers, and less working days due to Eid ul Adha holidays in Jul-2022.
The car sales is also down by 52 per cent Year on Year (YoY).
READ MORE: Toyota unveils all new Crown for first time
Indus Motors (INDU) posted decline of 62 per cent MoM to 2,375 units primarily due to non-production days in the month of July 2022. Similarly, Hyundai sales was down by 89 per cent MoM to 201 units from 1,871 units in June 2022.
Pak Suzuki Motors Company (PSMC) sales was down 58 per cent MoM in July 2022. All variant of company reported decline in the range of 57-95 per cent on MoM basis except for Alto where sales increased to 4,618 units from 1,216 units in June 2022, largely due to low base effect.
Honda Atlas Car (HCAR) also recorded decline of 35 per cent MoM to 2,537 units in July 2022 led by decline in sales of City & Civic by 30 per cent MoM.
READ MORE: Honda Motors to start pre-orders of ZR-V SUV by September 2022
Amongst Tractors, Millat Tractors (MTL) recorded decline of 60 per cent MoM and 65 per cent YoY to 1,011 units . Al Ghazi Tractors (AGTL) recorded sales of 1,243 units, down 48 per cent MoM and 12 per cent YoY.
Pakistan bike sales were down by 33 per cent MoM and 34 per cent YoY in July 2022. Atlas Honda (ATLH) recorded sales of around 80,000 units down 28 per cent MoM and 20 per cent YoY.
Trucks & Buses sales were down 22 per cent MoM and 37 per cent YoY to 379 units in July 2022 primarily due to drop in transportation activities amid slowdown in overall economy.
READ MORE: New tax rates on car registration from July 01, 2022
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Pakistan car sales surge 54 per cent in FY22
KARACHI: Pakistan car sales have surged by 54 per cent in fiscal year 2021/2022, according to data released on Friday.
The car sales – as reported by Pakistan Auto Manufacturers Association (PAMA) on Friday – increased to 279,267 units in the fiscal year 2021/2022 as compared with 181,397 units in the preceding year.
READ MORE: Toyota unveils all new Crown for first time
The rise in sales of domestically manufactured cars has been attributed to economic recovery and lower interest rate during the year.
Analysts at Topline Securities said Pakistan car sales (including sales of Non-PAMA members) clocked in at 33k units up by 24 per cent MoM primarily due to resolution of production issues and higher working days as compared to May-2022 due to Eid-ul-Fitr holidays. The same is up by 106 per cent YoY.
This takes FY22 car sales to 279,267 units up by 54 per cent YoY led by economic recovery and low interest rates.
READ MORE: Honda Motors to start pre-orders of ZR-V SUV by September 2022
Pak Suzuki (PSMC) and Hyundai Nishat recorded highest ever monthly sales of 16,009 units and 1,871 units in June 2022.
PSMC sales was up 31 per cent MoM in June 2022. All variant of company reported increase in a range of 37-94 per cent on MoM basis except for Wagon-R and Swift where sales were down by 5 per cent MoM and 4 per cent MoM respectively.
Similarly, Hyundai Nishat’s sales was up 9 per cent MoM led by increase in sales of Tucson 897 units (+40 per cent MoM) and Porter 283 units (+268 per cent MoM).
Indus Motors (INDU) posted increase of 7 per cent MoM to 6,309 units due to increase in sales of Corrolla & Yaris 4,453 units (+4 per cent MoM). Honda Atlas Car (HCAR) also recorded increase of 34 per cent MoM to 3,903 units in June 2022 led by increase in sales of City & Civic by 18 per cent MoM.
READ MORE: New tax rates on car registration from July 01, 2022
Amongst Tractors, Millat Tractors (MTL) recorded increase of 75 per cent MoM to 4,389 units and Al Ghazi Tractors (AGTL) of 3,201 units up 33 per cent MoM. This takes total tractor industry sales to 59k units, up 16 per cent YoY in FY22.
Pakistan bike sales were down by 4 per cent MoM and 9 per cent YoY in June 2022. This takes FY22 bike sales to 1.8mn units, down 4 per cent YoY.
Trucks & Buses sales were up 21 per cent MoM and 45 per cent YoY to 589 units in June 2022. This takes full year FY22 sales to 6,498 units, up 49 per cent YoY led by increased transportation activity.
READ MORE: SBP makes permission mandatory for motor car import