October 11, 2023 (MLN): Passenger car sales witnessed an increase of 8.48% MoM in September 2023, clocking in at 6,410 units compared to 5,909 units recorded in the previous month, the latest data from the Pakistan Automotive Manufacturers Association (PAMA) showed today.

However, on a year-on-year basis, the sales of cars plunged by 30.42% YoY compared to the 9,213 cars sold in September 2022.

The total production of passenger cars was recorded at 6,264 units in September 2023 up by 0.53% MoM compared to 6,231 in August 2023, conversely, on a yearly basis, the production has decreased by 15.33% YoY compared to the production of 7,398 units in September 2022.

In 3MFY24, car sales stood at 16,021, plummeting by 43.93% YoY compared to the same period last year.

This was mainly caused by the low economic activity and the high-interest rates that discouraged car financing.

The dollar shortage also affected the imports of car parts and raw materials, forcing some plants like Honda and Suzuki to shut down temporarily.

The output of Jeep, SUVs, and other vehicles also suffered from unfavorable market conditions.

The maximum number of sales was made within the ‘1300cc and Above’ category at 2,939 units. Within this category, Honda Cars (Civic & City) recorded the highest sales at 1,160 units, followed by Toyota (Corolla & Yaris) which sold 1,050 units.

The second highest number of sales was made within the ‘Below 1000cc’ category at 2,780 units. Within this category, Suzuki Alto recorded the highest sales at 2,551 units, followed by Suzuki Bolan which sold 229 units.

On the contrary, the '1000cc' category witnessed a sale of 691 units during the month.

Meanwhile, the total number of trucks sold during the month stood at 153 units, which translates into an increase of 15.04% MoM, while on a yearly basis, sales declined by 52.63% YoY as compared to 133 units in the previous month and 323 units in the same period last year.

Meanwhile, motorbike and three-wheelers sales increased by 7.53% YoY in September 2023, to stand at 107,084 units, as compared to 99,581 in September 2022.

Similarly, the production increased by 21.25% MoM compared to 88,318 units sold in August 2023.

Honda held the majority share in both the production and sales of 2/3 wheelers, with 86.30% share, clocking in its sales at 232,139 units and production at 231,758 units in 3MFY24.

Copyright Mettis Link News

Posted on: 2023-10-11T16:20:56+05:00