Car Sales in Pakistan increase in June 2024

The automobile industry in Pakistan experienced a notable surge in car sales in June 2024, marking an impressive 137.91% increase compared to the same month in the previous year (2022-23), according to data released by the Pakistan Automobile Manufacturing Association (PAMA).

Monthly Sales Highlight

In June 2024, the number of cars sold rose dramatically to 10,128 units from 4,257 units in June 2023. This significant uptick highlights a strong demand for automobiles in the country during this period.

Annual Sales Analysis

Despite the remarkable monthly performance, the overall car sales for the fiscal year 2023-24 (July-June) showed a decline. A total of 81,677 units were sold during this fiscal year, a 15.63% drop from the 96,811 units sold in the previous fiscal year (2022-23).

Breakdown by Car Models

A closer look at the data reveals varying performance across different car models:

Honda Civic and City: Sales of these models fell to 11,501 units in FY 2023-24, down from 12,823 units in the previous fiscal year.
Toyota Corolla and Yaris: Sales decreased by 13.44%, with 16,305 units sold compared to 18,838 units last year.
Suzuki Swift: This model saw a significant drop in sales, falling by 40.38% to 5,567 units from 9,338 units in the previous fiscal year.
Suzuki Cultus: Sales declined to 3,689 units from 6,956 units last year.
Suzuki WagonR: Sales dropped to 3,595 units from 5,434 units in the previous fiscal year.

Interestingly, the Suzuki Alto bucked the trend with a modest increase in sales, rising by 1.42% from 35,379 units to 35,883 units during the year under review. In contrast, the Suzuki Bolan experienced a significant decline, with sales decreasing to 2,774 units from 4,447 units last year.

The substantial increase in car sales in June 2024 suggests a strong rebound in the automobile market. However, the overall decline in annual sales indicates ongoing challenges within the industry. The mixed performance across different models highlights the varying consumer preferences and market dynamics at play. Moving forward, the industry will need to adapt to these changes to sustain growth and meet consumer demand effectively.