According to data from the Pakistan Automotive Manufacturers Association (PAMA), car sales in September dropped by 30% compared to the same month last year. The total number of cars sold in September 2023 was 6,410, while it was 9,213 in September of the previous year. However, there was an 8% increase in sales in September compared to August, which was attributed to the removal of import restrictions.

Car Sales Stats

In the first quarter of the fiscal year 2023/24, passenger car sales decreased by 44% to 16,021 units, down from 28,571 units in the same period last year.

Car sales with an engine capacity of 1,300cc and above declined by 38% to 2,939 units, compared to 4,715 units sold in the previous year. But this category saw a 27% increase in sales compared to August.

In September, 691 units of 1,000cc cars were sold, in contrast to 1,517 units sold during the same month last year. Vehicles with an engine capacity below 1,000cc had sales of 2,780 units, down 7% from 2,981 units last year. This category also saw a decline in sales compared to August.

Sales of buses and trucks dropped from 378 units in September of the previous year to 185 units in September 2023. However, sales increased compared to August, where 167 units were sold.

On the other hand, the sale of jeeps and pick-ups declined from 2,075 units in the same period last year to 1,902 units. Similar to other categories, there was a month-on-month increase. Tractor sales increased from 2,149 units in September of the previous year to 5,445 units.

The sale of rickshaws and motorbikes increased to 107,084 units in September 2023 compared to 99,581 units in the same period last year.

An analyst from Topline Securities, Sunny Kumar, attributed the monthly increase in car sales to the easing of import issues for completely knocked down (CKD) kits that car manufacturers use for car assembly. However, the main reasons for the year-on-year decline in sales were escalating car prices, expensive auto financing, and the low purchasing power of consumers.

Among car manufacturers, Honda Atlas Car (HCAR) showed the highest increase, with a 99% month-on-month growth. However, this was largely due to a low base from the previous month when the company could only sell 674 units.

Pak Suzuki (PSMC) was the only manufacturer that recorded a 1% decline in sales month-on-month, with 4,234 units sold in September 2023. This was led by an 8% decline in Alto sales, while other variants such as Ravi, Bolan, and Cultus saw increases of 58%, 38%, and 9% month-on-month, respectively. Swift and Wagon-R sales remained unchanged month-on-month at 506 and 359 units in September 2023.

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