PAMA – Car Sales Reach 18-Month High

Car sales in Pakistan have been on an upward trend for several months now. Despite high prices, the market appears to be recovering, as shown by strong sales figures. Following a successful May 2024, car sales saw a significant increase in June 2024.

Monthly Car Sales Surge

The Pakistan Automotive Manufacturers Association (PAMA) reported a 21% rise in month-on-month (MoM) car sales. In June 2024, 13,284 vehicles were sold compared to 10,949 in May 2024. This growth reflects the market's resilience and the stability of car prices.

Yearly Comparison

Year-on-year (YoY) car sales showed an even more impressive growth of 120%. This surge is linked to the stabilization of the Pakistani Rupee against the US dollar, making it easier for manufacturers to sell cars. In June 2024, 13,284 cars were sold compared to only 6,033 in June 2023.

Two & Three-Wheelers Decline

While car sales increased, motorbike and three-wheeler sales fell by 24% last month. Only 89,895 units were sold in June 2024 compared to 118,811 in May 2024. Atlas Honda's sales dropped by 22%, with 80,204 units sold in June 2024 against 103,297 in May 2024. Pak Suzuki also saw a decrease of 7%, selling 1,570 units in June compared to 1,696 in May.

Trucks & Buses Sales Increase

Sales of trucks and buses improved by 21% last month, with 299 units sold in June 2024 compared to 247 in May 2024. This increase highlights a growing demand in the commercial vehicle sector.

Company-Wise Sales Breakdown

Toyota Pakistan: Toyota's sales rose by 44%, with 2,957 units sold in June 2024 compared to 2,047 in May.

Honda Atlas: Honda saw an 8% decrease, selling 1,097 units in June 2024 compared to 1,187 in May.

Pak Suzuki Motors: Pak Suzuki's sales increased by 15%, selling 6,885 vehicles in June 2024 compared to 6,010 in May.

Hyundai Nishat: Hyundai experienced a 55% rise, selling 1,059 units in June 2024 compared to 683 in May.

It's important to note that the sales figures for Kia Lucky Motors, Master Changan Motors, Regal Motors, MG Motors, and Al-Haj Proton are not included in the PAMA report as they are not members of the association.

Car-Wise Sales Breakdown

PSMC (Pakistan Suzuki Motor Company): Sold 4,352 units of Alto, 526 units of Cultus, 372 units of Wagon R, 939 units of Swift, 356 units of Bolan, and 340 units of Ravi.

Toyota Indus: Sold 2,293 units of Corolla and Yaris, and 664 units of Fortuner and Hilux.

Honda Atlas: Sold 982 units of City and Civic, and 113 units of BR-V.

Hyundai Nishat: Sold 196 units of Elantra, 112 units of Sonata, 256 units of Porter, and 495 units of Tucson.

MoM Sales Comparison

Here is a detailed comparison of month-on-month sales for different car models:

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 car sales market in Pakistan is showing promising signs of recovery. Despite high prices, stable conditions have contributed to significant month-on-month and year-on-year growth. The surge in car sales, alongside improvements in the truck and bus sectors, indicates a positive trend for the automotive industry in Pakistan. However, the decline in motorbike and three-wheeler sales highlights some areas that still need attention. Overall, the market outlook remains optimistic, supported by strong performance from major car manufacturers.

AASMA MAJiD

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