Car sales fall 18% in FY24

July 10, 2024 (MLN): Car sales in Pakistan decreased by 18.2% to clock in at 103,826 units in fiscal year 2023-24, the latest data from the Pakistan Automotive Manufacturers Association (PAMA) showed today.

That compares with the sales of 126,878 units in the previous year.

Meanwhile, in June alone, car sales jumped significantly by 120.2% to 13,284 units compared to 6,033 units recorded in the same month of last year.

Similarly, on a month-on-month basis, the sales of cars, including LCVs, vans, and jeeps, have increased by 21.3% compared to the 10,949 cars sold in May 2024.

Breaking up the data, during the year, passenger car sales decreased by 15.7% YoY to 81,577 units compared to 96,811 units recorded in previous year

The total production of passenger cars was recorded at 79,573 units in FY24, down 22.0% compared to 101,984 units made last year.

The data released by PAMA further showed that the maximum number of passenger car sales was made within the ‘Below 1000cc’ category at 38,657 units in FY24.

Within this category, Suzuki Alto recorded the highest sales at 35,883 units, followed by Suzuki Bolan with sales of 2,774 units.

The second highest number of sales was made within the ‘1300cc and Above’ category at 35,447 units during the year.

Toyota (Corolla & Yaris) led sales with 16,305 units in this category, followed by Honda Cars (Civic & City) with sales of 11,501 units, Suzuki Swift with 5,567 units, and Hyundai Elantra with 1,193 units.

Moreover, the '1000 cc' segment witnessed a sale of 7,473 units in FY24.

In this category, Suzuki Cultus recorded the highest sales at 3,878 units, followed by Suzuki WagonR with sales of 3,595 units.

Copyright Mettis Link News