Car Sales See 10% Increase in September

After months of falling sales and due to deteriorating economic conditions of the country, there has been slight increase in car sales during the month of September compared to the previous month of August.

According to the report by the Pakistan Automotive Manufacturers Association (PAMA), car sales witnessed an increase of 10% in September 2023 with 8,312 units sold compared to the previous month of August 2023, which recorded only 7,579 sales.

Despite the improvement in car sales, challenges persist for the automotive industry as it is still plagued by high energy costs and inability to secure timely Letter of Credits (LCs) for import of CKD parts.

In a year-on-year (YoY) comparison, car sales are down 26% as buying power of people has been impacted due to record-high inflation and rising prices of petroleum products, which has pushed people to more efficient means of transport, such as motorcycles.

Overall Car Sales in September

According to the report, Toyota Pakistan witnessed an increase of 3% in car sales with 1,595 units sold during September compared to just 1,548 units in August. Meanwhile, Honda Atlas recorded a 99% increase in car sales with 1,342 units sold in September 2023 compared to just 674 units in August 2023.

However, Pak Suzuki Motor Company (PSMC) witnessed a fall of 1% in car sales with only 4,234 units sold in September 2023 compared to a slightly higher value of 4,268 units sold in August 2023.

Hyundai Pakistan also recorded a 5% uptick in sales with 820 units sold last month compared to 778 units in August.

However, it is pertinent to mention that many automotive companies like Kia Lucky Motor Corporation (KLMC), Master Changan Motors, Regal Automobiles, MG Motors, and Al-Haj Proton, are not PAMA members; therefore, sales figures from these companies are not available.

Car-Wise Sales

Complete Report

Read more: Pak Suzuki Decides to Delist From PSX.

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