Passenger car sales up 22pc

KARACHI: Passenger car sales (PAMA members) in the country increased by 22 per cent in September 2024 compared with September 2023, data showed on Thursday.

According to data released the by Pakistan Automotive Manufacturers Association (PAMA), passenger car sales (PAMA member cars) increased by 22 per cent to 7,794 units in September 24 compared with 6,410 units sold during the same month last year.

For the first quarter of FY25, passenger car sales increased by 25 per cent to 20,068 units against 16,021 units last year. September sales remained higher by 21 per cent month-on-month against 6,417 units of August 2024.

During this period, sales of 1300cc and above cars sales were recorded at 3,792 units, up 29 per cent compared with last year’s sales of 2,939 units.During this period, 1,000cc cars recorded sales of 241 units against 691 units during the same month last year. Below 1,000cc vehicles recorded a sale of 3,761 units, up 35 per cent against 2,780 units of last year.

The sale of buses and trucks increased to 319 units in September 2024 from 183 units in September 2023. The sale of jeeps and pick-ups increased to 2,503 units from 1,902 units sold during the same period last year. This category also saw an increase on an MoM basis. The sale of rickshaws and motorbikes increased to 130,960 units during September 24 against 107,084 units in the same period last year.

Analyst Myesha Sohail at Topline Securities said the increase in car sales is driven by the backlog of Suzuki cars which were delivered this month.Sazgar Engineering (SAZEW) saw the most significant YoY rise of 174 per cent but down 13 percent MoM to 827 units in September 2024, driven by Haval sales.

Pakistan Suzuki Motors Company (PSMC) saw the highest MoM rise of 37 percent while also up 18 per cent YoY to 5,013 units in Sep 2024. Ravi sales saw a 57 per cent YoY and 58x MoM rise while Alto also saw a 23 per cent YoY and 56 per cent MoM rise.

Indus Motor Company (INDU) recorded sales of 2,369 units a 48 per cent YoY and 11 per cent MoM rise while Honda Atlas Cars (HCAR) sales reached 1,269 units, down 5.0 per cent YoY while up 11 per cent MoM.

Corolla, Yaris and Corolla Cross sales rose by 79 per cent YoY and 20 percent MoM, driven by increased demand for the new Yaris variant, and a boost from Corolla Cross promotional deliveries.