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Car sales surge 2.35x YoY in April 2024

Car financing in Pakistan drops 1.56% MoM to Rs236bn in April
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May 13, 2024 (MLN): Car sales in Pakistan increased by 2.35x YoY in April 2024, clocking in at 10,515 units compared to 4,483 units recorded in the same month of last year, the latest data from the Pakistan Automotive Manufacturers Association (PAMA) showed today.

This significant jump is largely attributed to a low base from last year due to plant shutdowns.

Similarly, on a month-on-month basis, the sales of cars, including LCVs, vans, and jeeps, have increased by 12.1% compared to the 9,379 cars sold in March 2024.

Cumulatively, in 10MFY24, sales clocked in at 79,593 units, around 31.0% YoY lower compared to 115,381 units sold in 10MFY23.

Units Apr-24 Mar-24 MoM % Apr-23 YoY % 10MFY24 10MFY23 Cumulative %
Car Sales 10,515 9,379 12.1% 4,483 134.6% 79,593 115,381 -31.0%
Passenger Cars 8,873 7,672 15.7% 2,844 212.0% 62,962 88,620 -29.0%
LCVS, Vans & Jeeps 1,642 1,707 -3.8% 1,639 0.2% 16,631 26,761 -37.9%
Car Production 8,558 8,719 -1.8% 5,217 64.0% 78,770 119,476 -34.1%
Passenger Cars 6,805 7,268 -6.4% 3,740 82.0% 62,475 91,560 -31.8%
LCVS, Vans & Jeeps 1,753 1,451 20.8% 1,477 18.7% 16,295 27,916 -41.6%

 

Breaking up the data, during the review month, passenger car sales increased by 3.1x YoY to 8,873 units compared to 2,844 units recorded in the same month of last year

The total production of passenger cars was recorded at 6,805 units in May, up 82.0% YoY compared to 3,740 units made in the same month of 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 5,023 units in April 2024.

Within this category, Suzuki Alto recorded the highest sales at 4,786 units, followed by Suzuki Bolan with sales of 237 units.

The second highest number of sales was made within the ‘1300cc and Above’ category at 3,212 units during the review month.

Toyota (Corolla & Yaris) led sales with 1,722 units in this category, followed by Honda Cars (Civic & City) with sales of 956 units, Suzuki Swift with 328 units, and Hyundai Elantra with 111 units.

Moreover, the '1000 cc' segment witnessed a sale of 638 units in April 2024.

In this category, Suzuki Cultus recorded the highest sales at 320 units, followed by Suzuki WagonR with sales of 318 units.

Copyright Mettis Link News

Posted on: 2024-05-13T15:49:21+05:00