The sale of motorbikes and three-wheelers in Pakistan witnessed a decline of 11.92% during the first eight months (July-Feb) of the current fiscal year FY2023-24 compared to sales of the corresponding period the last year.
According to the Pakistan Automobile Manufacturing Association (PAMA), as many as 740,204 motorbikes and three-wheelers were sold from July to February FY24 against the sale of 840,396 units from July to February FY23.
The sale of Honda motorcycles dipped by 7.645 from 697,864 units to 644,544 units whereas the sale of Suzuki motorcycles witnessed a decline of 58.70% from 24,981 units to 10,316 units during the months under review.
Similarly, the sale of Yamaha motorbikes also went down from 8,623 units to 5,218 units while the sale of Road Prince motorbikes witnessed a sharp decline of 52.06% from 22,109 units to 10,597 units.
The sales of United Auto motorcycles decreased 23.74% from 71,213 units to 54,305 units.
According to sources within the industry, the drop in sales can primarily be attributed to the increased prices of motorbikes, rising fuel costs, and a decline in consumers’ purchasing power.
Meanwhile, the sale of United Auto three-wheelers however surged from 1,100 units to 1,805 units showing growth of 64.09%, while the sale of Sazgar three-wheelers also witnessed an increase of 18.35% from 7,335 units to 8,681 units.
The PAMA data showed that Qingqi three-wheeler sales had decreased by 28.72% from 5,229 units to 3,727 units whereas sales of Road Prince three-wheeler also witnessed a decrease of 38.08% from 1,326 units to 821 units.
It’s interesting to see how market dynamics are shifting within the motorcycle and three-wheeler industry in Pakistan, and it’s encouraging to note the growth in the three-wheeler segment despite the overall downturn.