Car sales in Pakistan surged in September 2024, totaling 10,297 units, a notable increase of 24% year-on-year (YoY) and 18% month-on-month (MoM), according to the Pakistan Automotive Manufacturers Association (PAMA). This uptick was mainly fueled by the delivery of a backlog of Suzuki vehicles.
In the first quarter of the fiscal year 2025 (1QFY25), car sales reached 27,585 units, representing a 31% rise from 20,982 units sold in the same period the previous year (1QFY24).
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Among manufacturers, Sazgar Engineering Works Limited (SAZEW) experienced the most significant year-on-year increase, with a 174% rise to 827 units. However, its sales dropped 13% month-on-month, largely due to Haval’s performance.
Pakistan Suzuki Motors Company (PSMC) saw a substantial 37% MoM increase, with a 5,013 unit total for September 2024, reflecting an 18% YoY growth. The Suzuki Ravi recorded an impressive 57% YoY and 58-fold MoM increase, while the Alto also performed well with a 23% YoY and 56% MoM rise.
Indus Motor Company (INDU) posted a 48% YoY and 11% MoM increase, selling 2,369 units. Meanwhile, Honda Atlas Cars (HCAR) sold 1,269 units, marking a 5% YoY decline but an 11% MoM rise. Corolla, Yaris, and Corolla Cross sales saw a 79% YoY and 20% MoM increase, largely driven by heightened demand for the new Yaris model and boosted promotional sales of the Corolla Cross.
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Hyundai Nishat Motors sold 677 units in September 2024, reflecting a 17% YoY decline but a 15% MoM improvement.
In the motorcycle segment, combined two- and three-wheeler sales reached 130,960 units in September 2024, a significant 22% YoY and 26% MoM increase. This marks the highest sales figure in 27 months, attributed to lower fuel prices and reduced inflation, which enhanced consumers’ purchasing power.
Sazgar Engineering’s three-wheeler sales also saw a substantial increase, doubling YoY and rising 32% MoM, totaling 2,168 units in September.
In contrast, the tractor industry faced a downturn. Millat Tractors (MTL) saw its sales plummet 76% YoY and 39% MoM to 743 units, while Al Ghazi Tractors (AGTL) experienced an 86% YoY and 77% MoM decline, with 333 units sold. Overall, tractor sales for the month stood at 1,076 units, down 80% YoY and 60% MoM, largely due to the increased sales tax, which rose from 10% to 18%.
Truck and bus sales, however, increased, reaching 319 units in September 2024, reflecting a 74% YoY and 6% MoM rise.
