The Pakistan Automotive Manufacturers Association (PAMA) has released car sales figures for November 2020. According to the data shared by Topline Securities, the auto sector continues to show progress, having recorded sales at 14,454 in November, amounting to a 48 percent Year-on-Year (YoY) increase.
The data further shows that the Pak Suzuki Motor Company (PSMC) had sold 6,803 vehicles in November 2020 and had a Month-on-Month (MoM) sales increase of 12 percent and a YoY sales increase of 16 percent.
Toyota Indus Motor Company (IMC) sold 4,942 vehicles in November, recording a YoY sales increase of 87 percent and a MoM sales decrease of 10 percent.
Honda Atlas Cars sold 2,237 vehicles in November, recording a MoM increase/decrease of 0 percent and a YoY sales increase of 72 percent.
Hyundai Nishat sold 472 vehicles in total during the same month, resulting in an MoM increase of 63 percent in sales.
Topline Securities also reported through its sources in the industry that Lucky Motors, which is the manufacturer and distributor of KIA in Pakistan and is not a member of PAMA, sold around 1,500 cars in November.
Here is how the automakers affiliated with PAMA performed in terms of passenger vehicle sales during November:
|Passenger Vehicle Sales (As Reported By PAMA)|
|Passenger Cars||Units Sold in November 2020|
|City & Civic||2,088|
The prices of the cars being sold by the members of PAMA keeps increasing despite the appreciation of the local currency. The advent of the new automakers might be able to change this trend.