The latest data from the Pakistan Automotive Manufacturers Association (PAMA) has revealed that passenger car sales witnessed a 55.55% year-on-year decline in the first half (July-Dec) of the fiscal year 2023-24.
The numbers indicate that only 30,662 units were sold during the first six months of FY24, compared to the 68,912 units recorded in the same period of last year.
Data showed a marginal increase of 0.84% in car sales when compared to November 2023, with 4,875 cars sold during December 2023. However, this represented a massive 64.33% YoY decline compared to the same month in 2022.
Production numbers
The total production of passenger cars during H1 FY24 reached 30,786 units, marking a 56.87% YoY decrease compared to the 71,378 units manufactured during H1 FY23.
In December 2023, production numbers saw an uptick, totaling 6,654 units, a 55.8% MoM increase compared to November 2023. However, on a YoY basis, December 2023 production figures were down by 51.64% when compared to the 13,758 units produced in December 2022.
The Pakistani auto industry has been grappling with a myriad of challenges, including high inflation, currency depreciation, low demand, and political uncertainty. Recent supply chain disruptions in sourcing critical parts and materials have only exacerbated the industry’s problems.
In the ‘Below 1000cc’ category, the data released by PAMA showed that 14,584 units sold during H1 FY24. Within this category, Suzuki Alto led the sales with 13,405 units, followed by Suzuki Bolan with 1,179 units.
The ‘1300cc and Above’ category saw 12,341 units sold in the first half of FY24. Toyota (Corolla & Yaris) dominated this segment with 5,279 units sold, followed by Honda Cars (Civic & City) with 3,938 units.
The ‘1000cc’ segment reported sales of 3,737 units during the review period.
Truck and motorbike sales
Truck sales also witnessed a decline, with a 50.22% YoY drop to 810 units in H1 FY24 compared to 1,627 units in the same period last year.
Motorbike and three-wheeler sales experienced a 13.7% YoY decrease in H1 FY24, totaling 541,821 units, compared to 627,835 in H1 FY23. The production of motorbikes and three-wheelers decreased by 13.62% YoY, with 543,773 units produced in H1 FY24.
Honda maintained a strong presence in the 2/3-wheeler market, with 470,399 units sold and 470,706 units produced during H1 FY24.
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