The Pakistan Automotive Manufacturers Association (PAMA) has published car sales figures for March of 2021. According to the data, the auto industry has recorded 20,813 vehicle sales in March of 2021, allowing for a Year-on-Year (YoY) increase of a whopping 197.2 percent compared to March 2020 and a Month-on-Month (MoM) increase of 26.6 percent compared to February 2021.
As per the data, Toyota Indus Motor Company (IMC) sold 6,695 vehicles in March 2021, recording a YoY sales increase of 158 percent and MoM sales increase of 52 percent. Honda Atlas Cars (HCAR) sold an impressive 3,153 vehicles last month, recording an MoM sales increase of 29.8 percent and a YoY increase of 101.6 percent.
The data further reveals that the Pak Suzuki Motor Company (PSMC) has once again left the entire competition in the dust, having sold 10,161 vehicles in March of 2021, recording a Month-on-Month (MoM) sales increase of 14.1 percent and a YoY sales increase of an enormous 280.1 percent.
Hyundai Nishat Motors sold 723 vehicles in March of 2021, resulting in an MoM increase of 11.1 percent in sales.
Here is how the automakers affiliated with PAMA performed in terms of passenger vehicle sales during March 2021 (excluding commercial vehicles):
|Passenger Vehicle Sales (As Reported By PAMA)|
|Passenger Cars||Units Sold in March 2021|
|City & Civic||2,603|
The monumental Year-on-Year increase in sales is due in large part to the fact that March 2020 was the time when a country-wide lockdown was imposed in Pakistan to curtail the spread of Coronavirus that had just entered the country.
Due to the lockdowns, the auto industry suffered from crippling losses and all-time low sales figures, which is why there is a stark contrast between the sales figures of March 2020 and March 2021.
This radical increase in the sales of cars is a good sign for the economy. Plus, the strong performance of the PKR against the USD, in various new automakers investing in the Pakistani car market, could mean that promising days ahead for our automotive industry.