Islamabad, Sep 11: Car Sales Increase August 2024 saw a strong 15% year-over-year (YoY) growth in car sales as Pakistan’s auto industry continued to grow. New model releases combined with a smaller base effect from the prior year drove this growth.
The Pakistan Automotive Manufacturers Association (PAMA) has released figures showing that overall car sales in August increased to 8,699 units from 7,579 units in the same month the previous year.
As a result, there was a notable 36% YoY rise in sales for the first eight months of the fiscal year (2MFY25), totaling 17,288 units.
The research states that Sazgar Engineering (SAZEW), which had an astounding 606% YoY increase in sales to reach 953 units in August, remained at the top of the pack.
Strong demand for its Corolla, Yaris, and Corolla Cross models propelled Honda Atlas Cars’ (HCAR) sales, which increased 70% YoY to 1,148 units.
Indus Motor Company (INDU) additionally revealed a robust 38% YoY growth in sales, amounting to 2,129 units. August saw a modest YoY fall of 24% for Hyundai Nishat Motor (HNM), but a 12% month-over-month (MoM) improvement.
In addition, sales at Pakistan Suzuki Motor Company (PSMC) decreased 14% year over year to 3,653 units.
Sales of motorcycles and three-wheelers increased dramatically in August 2024, rising by 23% month over month and 18% year over year (YoY) to 104,234 units. With 90,500 units sold, Atlas Honda (ATLH) leads the segment and showed notable growth of 21% YoY and 29% MoM.
