Islamabad, Nov 12: Sazgar and Suzuki Lead the Charge in Car Sales with Astronomical Increase
Research on Pakistan’s automotive industry shows that car sales increased by 27% month-over-month (MoM) in October 2024, with 13,108 cars sold.
This translates to a YoY growth of 112 per cent, and as the numbers from the Pakistan Automotive Manufacturers Association (PAMA) depict it.
The sales of first four months of the FY25 were 40,693 units, which is increase from the 27,162 units of the same period of the last fiscal year.
This growth is primarily attributed to improved access to funds, a more positive expectation of the customer, and higher requirements for new model vehicles including HEVs and EVs.
Car Sales
Sazgar Engineering (SAZEW) led the table experiencing a YoY growth of 296% and MoM growth of 21% and was able to sell 1002 vehicles in the month of October 2024.
Another company that did well was the Pak Suzuki Motors Company (PSMC) which observed an 85% YoY increase and a 40% MoM increase, it sold 7040 units. The Suzuki Alto was the most popular model with an 80% YoY and a 49% MoM increase.
Pak Suzuki sales for Indus Motor Company (INDU) reached out to 2,532 units as compared to 1,044 units in the previous year showing a YoY uptrend of 142 % and MoM of 7%.
Honda Atlas Cars (HCAR) surged a 230 percent YoY to 1,514 units. Hyundai recorded 34/1 YoY increment but a 26/1 MoM dip selling 504 units.
Motorcycles and Three-Wheelers
The motorcycle and three-wheel segment posted healthy growth and volumes for the month stands at 137693 Fig.14.35% YoY and 5% MoM which is the highest in last 28 months.
On the segment lead, Atlas Honda Limited (ATLH) sold 115,293 bikes, up by 28% YoY and 5% MoM, respectively.
The Market Gravity with relation to PSMC had YoY as well as MoM increase and stood at 2,182 units respectively – 79% YoY as well as 10% MoM.
SAZEW posted a 139 percent year-on-year increase and a 9 percent month-on-month sales growth, with 1,207 units sold.
Other companies together recorded a growth of 85% YoY and 5% MoM selling as many as 17,817 units.
Tractors: The tractor segment, in particular, was down, with October 2024 sales at 1,733 units which was a 67 percent decrease YoY.
This decline is partly attributable to the policy change implemented by the FBR which permits the use tractors for purposes other than agricultural.
Millat Tractors registered a YoY contraction of 52% against the prior year and a mom moderation of 3% selling 1,439 units. Al-Ghazi Tractors (AGTL), which was 67% down YoY and 5% down MoM, sold 294 units.
Trucks and Buses
Truck and bus segment was among the strongest performing segments, with year-on-year growth of 102%, and month on month growth of 10% to 351 units.
Again, Hino was the leading segment, with gate delivery of 107 units; a 102% increase YoY and 38% MoM.
Master Motors witnessed a YoY as well as MoM growth of 234% and 30% respectively, where 48 units were sold. JAC posted a constant 102% Year-over-Year growth rate and a 15% Month-over-Month growth rate selling 51 units.
Isuzu recorded one up with YoY increase of 78% and MoM up by 10% selling 145 models out of the market.
