Pakistan Car sales in Pakistan (as reported by PAMA) clocked in at 9,820 units in Dec 2024, reflecting a 69% YoY rise but a 3% MoM fall in sales, according to a report by Topline Securities.
The MoM decline is primarily attributed to the end-of-year effect, with buyers postponing deliveries or purchases to obtain new year registrations.
The YoY rise in car sales is driven by lowered interest rates, improved consumer confidence, and the introduction of newer variants and models.
This takes 1HFY25 sales to 60,676 units a 54% YoY rise from 39,453 units in 1HFY24.
In 2024 car sales clock in at 125,050 units a 52% rise from 2023 sales of 82,215 units.
Data from Sazgar Engineering Works (SAZEW) has not been released yet; hence, the Dec numbers exclude SAZEW’s sales.
Among Non PAMA members, KIA Lucky Motors saw a 30-40% rise in sales in 2024 as compared to 2023, as per our channel checks, with volumes expected at 6500-7000 units. Including KIA sales, industry car sales in 2024 is up 51%, we estimate.
Company wise: Indus Motor Company (INDU) was the only company to experience a MoM decline of 25% in Dec 2024, while all other companies saw both MoM and YoY increases in sales.
In the motorcycle segment, 2 and 3 wheelers sales increased by 43% YoY while down 2% MoM totaling to 118,091 units in Dec 2024.
The total tractor industry recorded 7,030 units in sales, marking a 170% YoY and 105% MoM increase, primarily driven by the delivery of tractors under the Green Tractor Scheme.
Company-wise, Millat Tractors (MTL) achieved 4,686 units in sales, the highest monthly sales in nearly 7 years (since April 2018), reflecting a 123% YoY and 231% MoM rise in Dec 2024.
Meanwhile, Al Ghazi Tractors (AGTL) recorded 2,344 units in sales, up 363% YoY and 17% MoM in Dec 2024.
Truck and bus sales were up 84% YoY but down 41% MoM, reaching 193 units in Dec 2024.
Auto sales has seen a recovery in the past few months and going forward we expect sales to post strong growth from Jan 2025 owing to expected recovery in auto finance amidst falling interest rates.
Get the latest automobile news, car launches, bike reviews, videos and analysis wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.