There was a 58% month-on-month (MoM) surge in passenger car sales in Pakistan in January 2024. According to the data released by the Pakistan Automotive Manufacturers Association (PAMA), 7,802 units were sold last month compared to 4,916 units sold in December 2023.
On a year-on-year (YoY) basis, car sales also exhibited a positive trend, showing a 29% improvement compared to January 2023 when 6,021 cars were sold. However, the cumulative sales for the first 7 months of the fiscal year 2024 (7MFY24) amounted to 38,464 units, reflecting a 49% decline compared to the same period of the previous fiscal year (7MFY23).
Breaking down the sales data, the ‘1300cc and Above’ category dominated, with 4,091 units sold in January 2024. Within this category, Toyota (Corolla, Yaris, and Corolla Cross) led with 2,143 units, followed by Honda Cars (Civic and City) with 1,207 units. The ‘Below 1000cc’ category saw the second-highest sales at 3,118 units, where Suzuki Alto accounted for 2,983 units and Suzuki Bolan contributed 135 units. The ‘1000cc’ segment observed sales of only 593 units.
Local assemblers & industry stakeholders are optimistic that the post-elections scenario will help the sector recover from the crisis and that car sales in Pakistan will improve. For the local industry, the beginning of the new year has been generally positive; let’s hope that the upward trend continues in the months to come.
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