According to data released by the Pakistan Automotive Manufacturers Association (PAMA), car sales in Pakistan surged by 12% month-on-month in April 2024, with a total of 10,515 units sold compared to 9,381 units in March 2024.
Pak Suzuki led the increase, with sales of its Alto variant soaring by 64% month-on-month to 4,786 units in April 2024, marking the highest sales in 15 months, as reported by brokerage house Topline Securities.
Year-on-year, car sales saw a remarkable 135% surge, rising from 4,483 units in April 2023.
Topline Securities attributed the significant year-on-year growth to a low base from the previous year due to plant shutdowns.
Pak Suzuki experienced a remarkable 307% year-on-year increase in sales, reaching 6,000 units in April 2024 compared to 1,474 units in April 2023. On a month-on-month basis, the company saw a 46% increase from 4,101 units sold in March 2024.
Indus Motor Company (IMC), the seller of Toyota cars in Pakistan, witnessed a 21% month-on-month increase in sales, reaching 2,065 units in April 2024 compared to 1,705 units in the previous month. Year-on-year, IMC registered a 6% increase in sales.
Honda Cars experienced a 54% decrease in monthly sales, recording 1,003 units in April 2024 compared to 2,188 units in March 2024. However, the company saw a significant year-on-year increase of 385% compared to April of the previous year when it sold only 207 units.
Total car sales in the first ten months of the current financial year stood at 79,595 units, reflecting a 31% decrease compared to 115,381 units sold in the same period the previous year.
On the other hand, motorbike and three-wheeler sales saw a 15% month-on-month increase and a 31% year-on-year increase, reaching 107,590 units.
In contrast, tractor sales witnessed a 33% month-on-month decline and a 4% year-on-year decline, totaling 3,083 units.
