Business

Pakistan’s locally assembled car sales post 24% growth in Sept

Sazgar Engineering experienced the most significant annual increase of 174% to 827 units, driven by Haval sales

Pakistan’s locally assembled car sales post 24% growth in Sept
A row of Toyota cars
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Pakistan’s car sales surged 24% to 10,297 units in September compared to the same month last year, as reported by the Pakistan Automotive Manufacturers Association (PAMA).

The boost in sales is primarily driven by the backlog of Suzuki cars, which were delivered this month, an analyst at Topline Securities said.

In the first quarter of fiscal year 2024-25 (FY25), car sales reached 27,585 units, up 31% from 20,982 units in the same period last year.

Sazgar Engineering experienced the most significant annual increase of 174% to 827 units, driven by Haval sales.

Pakistan Suzuki Motors Company recorded 18% increase to 5,013 units in September compared to the same month last year. Sales of Ravi models saw a 57% increase, while Alto sales rose 23%.

Indus Motor Company reported 48% growth in sales to 2,369 units, while Honda Atlas Cars sales reached 1,269 units, down 5%.

Cumulatively, Corolla, Yaris, and Corolla Cross sales increased by 79%, driven by demand for the new Yaris variant and promotional deliveries of Corolla Cross.

Hyundai Nishat Motor saw a 17% decrease to 677 units in September compared to the same month last year.

In the motorcycle segment, sales of two-wheelers and three-wheelers in Pakistan increased by 22% compared to last September, totaling 130,960 units — the highest in 27 months.

This rise is attributed to falling fuel prices and inflation, improving purchasing power for customers.

In the tractor segment, Millat Tractors saw sales of 743 units, down 76%, while Al Ghazi Tractors recorded sales of 333 units, down 86%.

Total tractor industry sales fell to 1,076 units, an 80% decrease this September compared to last year, mainly due to an increase in sales tax from 10% to 18%.

Truck and bus sales increased by 74%, reaching 319 units in September.

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