Islamabad, Oct 11: Pakistan Auto Industry Faces Unexpected Surge in Suzuki Ravi, Alto, Toyota Corolla, and Yaris Sales. According to the Pakistan Automotive Manufacturers Association (PAMA), car sales in Pakistan increased significantly in September 2024, reaching 10,297 units. This represents a substantial increase of 24% YoY and 18% MoM between September and August of last year. The backlog of Suzuki cars that were being delivered was the primary driver of this increase.
Pakistan Auto Industry Car sales increased 31% to 27,585 units in the first quarter of the fiscal year 2025 (1QFY25) from 20,982 units sold in the same period the previous year (1QFY24). With a 174% increase to 827 units, Sazgar Engineering Works Limited (SAZEW) saw the most year-over-year growth among manufacturers. However, Haval’s performance was a major factor in its sales dropping 13% month over month.
In September 2024, Pakistan Suzuki Motors Company (PSMC) recorded a significant 37% MoM gain, with a total of 5,013 units sold, indicating an 18% YoY growth. While the Alto did well with a 23% YoY and 56% MoM gain, the Suzuki Ravi recorded an amazing 57% YoY and 58-fold MoM increase.
With 2,369 units sold, Indus Motor Company (INDU) reported a 48% YoY and 11% MoM rise. Honda Atlas Cars (HCAR) saw a 5% YoY decrease but an 11% MoM increase in sales with 1,269 units sold. Sales of the Corolla, Yaris, and Corolla Cross increased by 79% YoY and 20% MoM. This growth was mostly attributable to increased demand for the new Yaris model and increased Corolla Cross promotional sales.
On the other hand, there was a slump in the tractor business. Sales of Millat Tractors (MTL) fell 76% YoY and 39% MoM to 743 units, while sales of Al Ghazi Tractors (AGTL) fell 86% YoY and 77% MoM to 333 units. The month’s total tractor sales were 1,076 units, an 80% YoY and 60% MoM decrease mostly attributable to the increased sales tax, which went from 10% to 18%.
On the other hand, sales of trucks and buses rose, with 319 units sold in September 2024—a 74% YoY and 6% MoM increase.In September 2024, Hyundai Nishat Motors sold 677 units, indicating a 17% YoY decrease but a 15% MoM improvement.
Sales of two- and three-wheelers combined in the motorbike market reached 130,960 units in September 2024, a notable 22% YoY and 26% MoM rise. Thanks to decreased fuel prices and inflation, customers’ spending power has increased, resulting in the greatest sales total in 27 months.
Sales of three-wheelers from Sazgar Engineering also increased significantly, doubling year over year and increasing 32% month over month to 2,168 units in September.
