Car sales in Pakistan fell by 22% month-on-month (MoM) in November 2024, amounting to 10,163 units according to the data released by the Pakistan Automobiles Manufacturers Association (PAMA).
However, despite this decline, sales saw a 57% year-on-year (YoY) growth, indicating a recovery in demand compared to November 2023. This brought total sales for the first 5 months of FY24-25 to 50,856 units, reflecting a 51% YoY increase from 33,637 units recorded in 5MFY23-24.
“The month-on-month (MoM) decline is primarily attributed to the end-of-year effect, as buyers postpone deliveries or purchases to obtain new-year registrations,” explained Myesha Sohail, an auto sector analyst at brokerage house Topline Securities.
Among automakers, Sazgar experienced the steepest MoM decline, with sales dropping 42% to 584 units in November. However, its production remained relatively stable, slipping just 1% MoM to 993 units. Indus Motor Company reported a 13% MoM decrease in sales, delivering 2,194 units of Toyota cars in November. Despite the monthly decline, its year-on-year (YoY) sales surged by 129%.
Pak Suzuki sold 5,374 units in November, marking a 53% YoY increase but a 26% MoM decline. Similarly, Honda Atlas recorded a 27% MoM drop in sales, totaling 1,112 units, though its YoY sales increased by 10%. In contrast, Hyundai Nishat defied the trend, achieving an 11% YoY and 21% MoM increase in sales, reaching 724 units, fueled by a 45% jump in Tucson sales.
A significant highlight of the month was Dewan Farooque Motors which garnered attention by selling 63 units of its newly launched locally assembled electric vehicle, the Honri Ve. Meanwhile, in other categories, two- and three-wheeler sales saw a 36% year-on-year (YoY) increase but recorded a 12% month-on-month (MoM) decline, totaling 120,484 units.
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