According to the most recent data released by the Pakistan Automotive Manufacturers Association (PAMA), passenger car sales in Pakistan fell by 3% month on month in March 2024, to 9,379 units, down from 9,640 units in February. Sales were also 1% lower than in the same month last year.
Honda Atlas
Surprisingly, Honda Atlas saw significant growth in March 2024, with sales increasing by 44% month on month (MoM) and 162% year on year (YoY) to 2,188 units.
The 6th-generation City is driving sales, becoming Pakistan’s second best-selling locally assembled vehicle, trailing only the Suzuki Alto.
In March 2024, Pak Suzuki and Toyota Indus saw a 16% MoM decline in car sales, while Hyundai Nishat saw a 3% MoM increase but a 30% YoY decline.
PAMA Car Sales
PAMA car sales for the first nine months of the current fiscal year (9M-FY24) totaled 69,078 units, a 38% year-on-year decrease from 110,898 units in the same period the previous year.
With the current pace, it’s reasonable to expect total sales to fall short of 100,000 units by the end of this fiscal year.
The sharp decline is attributed to rising car prices, high auto financing costs, and consumers’ shrinking purchasing power.
To read our blog “34 companies got licenses for producing electric vehicles,” click here
