Pakistan Car Sales Surged by 10% in September 2023
Staff Report
Pakistan car sales in September 2023 (as reported by PAMA) clocked in at 8.3K units, marking a 10% MoM increase but a 26% YoY decline.
Including Non-PAMA members’ car sales reached approximately 10K units, showing a 9% MoM increase and a 23% YoY decline.
Month-on-Month Momentum:
The MoM increase in car sales could be attributed to the easing of CKD import issues.
Year-on-Year Challenge
However, the YoY decline in sales was primarily attributed to escalating car prices, expensive auto financing, and the low purchasing power of consumers.
Quarterly Reflection
In the first quarter of fiscal year 2024 (1QFY24), car sales were recorded at 20,983 units, indicating a substantial 40% YoY decrease compared to 35,002 units in 1QFY23.
Highs and Lows Among Car Manufacturers
Honda Atlas Car (HCAR):
Honda Atlas recorded an exceptional 99% MoM increase, reaching 1,342 units in Sep-2023. This surge was primarily due to a low base in the previous month when the company sold only 674 units. Honda Car Prices In Pakistan| All Models, Features, Specifications
Pak Suzuki (PSMC)
Pak Suzuki was the sole manufacturer to record a decline of 1% MoM, with sales of 4,234 units in Sep-2023.
This decline was led by an 8% MoM drop in Alto sales. Other variants, including Ravi, Bolan, and Cultus, experienced increases of 58% MoM, 38% MoM, and 9% MoM, respectively. Suzuki Car Prices In Pakistan in 2023 | Suzuki New Car Models
Swift and Wagon-R sales remained stable MoM at 506 and 359 units in Sep-2023.
Hyundai
Hyundai experienced a 5% MoM increase in sales, with their Porter model witnessing a substantial 48% MoM surge to 177 units in Sep-2023.Hyundai Car Price In Pakistan| Price Charts, Specs, Features
Indus Motors (INDU)
Indus Motors recorded a 3% MoM increase in sales, driven by the increased sales of Fortuner and Hilux, which marked a noteworthy 27% MoM growth.
Tractors in Focus
Al-Ghazi Tractors (AGTL) and Millat Tractors (MTL)
Al-Ghazi Tractors recorded increases of 50% MoM and 29% MoM, respectively, in Sep-2023.
This led to total tractor industry sales in 1QFY24 reaching 12,090 units, reflecting a remarkable 64% YoY increase due to a low sales base in the previous year, impacted by floods.
Trucks & Buses
Sales in this category were up 11% MoM but down 51% YoY to 185 units in Sep-2023. This translated to total industry sales of 547 units, down 45% YoY in 1QFY24.
Biking Trends
Pakistan bike sales were up 21% MoM and 8% YoY in Sep-2023.
Atlas Honda (ATLH)
Altas Honda recorded sales of 95K units, reflecting a substantial 27% MoM increase and a 12% YoY rise.
However, the overall industry sales in 1QFY24 were at 269K units, down 10% YoY. This dip was attributed to higher bike prices and the limited purchasing power of consumers.
In the ever-evolving terrain of Pakistan’s automotive industry, these numbers painted a vivid and multifaceted picture, highlighting both the resilience and the challenges faced by the sector.
