Motorcycle, three-wheeler sales drop over 3% YoY in FY24

July 11, 2024 (MLN): Motorcycles and three-wheeler sales in Pakistan dropped by 3.11% YoY in the fiscal year 2023-24 to 1.15 million units compared to 1.19m units sold in the previous fiscal year (FY23), the latest data from the Pakistan Automotive Manufacturers Association (PAMA) showed.

Meanwhile, in June alone, sales were recorded as 8.38% higher on a year-on-year basis, while a contrasting trend was observed on a month-on-month basis with sales falling significantly by 24.34%.

This marks the third consecutive fiscal year of declining sales, with figures dropping to almost a 10-year low in FY24.

Similar to the sales figures, the total production of Motorcycles and three-wheelers in Pakistan was recorded at 1.15m units in FY24, down by around 3% compared to FY23.

In June 2024, production clocked in at 87,844 units, which reflects a growth of 9.94% versus June 2023, and a massive drop of 27.14% versus May 2024.

Honda continued to solidify its position as the dominant industry leader, with sales crossing the 1m unit mark in FY24, taking its market share to 87.23%.

The second and third leaders on the list were United Auto Motorcycle and Suzuki, with sales figures of 82,683 and 16,876 units respectively in FY24.

Following closely, Road Prince sold 16,049 bikes in the review fiscal year.

Honda remained the leading brand with sales in June alone standing at 80,204, reflecting a growth figure of 6.86% compared to the previous year, while dropping 22.36% compared to the sales recorded in May 2024.

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