Pakistan’s Auto Sales Surge 100.4% YoY in May 2024, Marking Sector Recovery

Latest Data Shows Strong Performance Led by Passenger Cars; Production Figures also Witness Significant Increase

Islamabad: Auto sales in Pakistan saw a significant year-on-year increase of 100.4 per cent in May 2024, reaching 10,949 units compared to 5,464 units sold in May 2023, according to the latest data from the Pakistan Automotive Manufacturers Association (PAMA).

This marked a substantial recovery in the automotive sector.

On a month-on-month basis, the sales of cars, including light commercial vehicles (LCVs), vans, and jeeps, also showed a positive trend with a 4.1 per cent increase from 10,515 units sold in April 2024.

However, the cumulative data for the first 11 months of the fiscal year 2024 (11MFY24) presents a different picture. Total car sales during this period were 90,542 units, reflecting a 25.1 per cent decline from the 120,845 units sold in the same period of the previous fiscal year (11MFY23).

Breaking down the May 2024 data, passenger car sales surged by 115.7 per cent year-on-year to 8,487 units, up from 3,934 units in May 2023. Despite this yearly increase, there was a 4.4 per cent decline in passenger car sales on a monthly basis.

Production figures also showed improvement, with 8,472 passenger cars produced in June 2024, a 66.3 per cent increase from the 5,093 units manufactured in June 2023.

The ‘Below 1000cc’ category led the sales in May 2024, with 4,509 units sold. The Suzuki Alto was the top-seller in this segment, accounting for 4,062 units, followed by the Suzuki Bolan with 447 units.

In the ‘1300cc and Above’ category, 3,496 units were sold. Toyota models (Corolla and Yaris) dominated this segment with 1,562 units, followed by Honda Cars (Civic and City) at 1,049 units, Suzuki Swift at 714 units, and Hyundai Elantra at 108 units.

The ‘1000cc’ segment recorded sales of 482 units in May 2024. Within this category, the Suzuki WagonR led with 253 units, while the Suzuki Cultus followed with 229 units.

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The latest data from PAMA highlights a significant rebound in the automotive market in May 2024, driven primarily by strong performances in the lower engine capacity segments and a robust recovery in passenger car sales.