Revitalized Auto Market: PAMA Report Unveils 135% Surge in Car Sales

Resurgence of Car Sales

Every month, the Pakistan Automotive Manufacturers Association (PAMA) delves into the state of car sales, offering a comprehensive view of the automotive industry's performance. After a series of downtrends, there's a glimmer of hope on the horizon. The latest report showcases a noteworthy uptick in car sales, hinting at a potential turnaround amidst persistent challenges.

Month-on-Month (MoM) Comparison: A Promising Rise

In April 2024, car sales witnessed a commendable surge, marking a 12% increase from the previous month's figures. A total of 10,515 vehicles found buyers compared to 9,381 in March 2024. This encouraging trend is a much-needed boost for the industry.

Year-on-Year (YoY) Analysis: A Spectacular Leap

The real revelation comes when we compare this April to the same period last year. The surge amounts to a staggering 135% increase in car sales. In concrete terms, manufacturers managed to sell 10,515 cars, dwarfing the mere 4,483 vehicles sold during April 2023. This monumental leap can be attributed to the stability of the Pakistani Rupee against the formidable US dollar.

Two & Three-Wheelers: Riding the Wave of Growth

Not limited to cars, the upward trajectory extends to motorbikes and three-wheelers. Sales soared by an impressive 15% last month, with 107,590 units hitting the roads compared to 93,606 units in March 2024. Notably, Atlas Honda experienced a 19% surge, reaching 95,069 units, up from 80,139 units in the previous month. Similarly, Pak Suzuki saw a 5% increase, selling 1,684 units last month compared to 1,610 units in March 2024.

Trucks & Buses: Facing a Temporary Setback

However, not all sectors experienced growth. Sales of trucks and buses faced a notable downturn of 27% month-on-month (MoM), with only 229 units sold last month compared to 312 in March 2024. This downturn, while significant, may reflect temporary market fluctuations rather than a long-term trend.

Company-Wise Sales Breakdown: Diverse Performances

Diving deeper into the report, we observe diverse performances across different manufacturers:

Toyota Pakistan: Witnessed a robust 21% increase in sales, with 2,065 units sold last month compared to 1,705 vehicles in March.

Honda Atlas: Experienced a significant decline of 54%, selling only 1,003 units last month compared to 2,188 units in March 2024.

Pak Suzuki Motors Company: Saw a considerable 46% increase, selling 6,000 vehicles against 4,101 cars in the previous month.

Hyundai Nishat: Marked an 18% increase, selling 686 units last month compared to 582 units in March 2024.

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

Car-Wise Sales Breakdown:Detailed Look

The report also provides insights into the performance of specific car models:

PSMC (Pakistan Suzuki Motor Company): Sold 4,786 units of Alto, 320 units of Suzuki Cultus, 318 units of Suzuki Wagon R, 328 units of Suzuki Swift, 237 units of Suzuki Bolan, and 11 units of Suzuki Ravi.

Toyota Indus: Sold 1,722 units of Corolla and Yaris, and 343 units of Fortuner and Hilux.

Honda Atlas: Sold 956 units of City and Civic, and 47 units of BR-V/HRV.

Hyundai Nishat: Sold 111 units of Elantra, 95 units of Sonata, 227 units of Porter, and 253 units of Tucson.

Month-on-Month (MoM) Comparison Table

Here's a concise breakdown of the MoM comparison for the aforementioned car models:

Car Model	March’24	April’24	Difference
Suzuki Alto	2,922	4,786	64%
Suzuki Cultus	302	320	6%
Suzuki Wagon R	376	318	-13%
Suzuki Bolan	237	237	0%
Suzuki Ravi	132	11	-92%
Suzuki Swift	131	328	133%
Toyota Corolla & Yaris	1,547	1,722	11%
Toyota Fortuner & Hilux	158	343	117%
Honda City & Civic	1,994	956	-52%
Honda BRV & HRV	194	47	-76%
Hyundai Tucson	259	253	1%
Hyundai Sonata	70	95	36%
Hyundai Elantra	92	111	21%
Hyundai Porter	170	227	34%

A Promising Future

In conclusion, the latest PAMA report paints a picture of a revitalized auto market in Pakistan. While challenges persist, the significant surge in car sales, alongside positive performances in other segments, bodes well for the industry's future. As manufacturers navigate these changing dynamics, this upward trend offers hope for sustained growth and prosperity in the automotive sector.

AASMA MAJiD

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