- In November ’24, auto sales in Pakistan totaled 9.8K units, showing a 25% MoM decrease but a 52% YoY increase. For 5MFY25, auto sales amounted to 50.5K units, reflecting a 50% YoY growth, according to PAMA.
- The MoM decline in overall auto sales is primarily due to the high base effect in Oct’24 (13.1K units) compared to the 3MFY25 average sales of ~9.2K units, along with the year-end impact. However, the YoY increase is attributed to lower financing rates, improving macros, the low base effect, and introducing new car models.
- Breaking down the segments, the 1,300cc and above category saw a 2% MoM decrease, with sales reaching 3,930 units. The 1,000cc segment experienced a 33% MoM decrease, totaling 381 units. Moreover, the below 1,000cc segment recorded a 40% MoM decrease, with sales reaching 3,598 units.
- Additionally, PAMA introduced a new electric vehicle category, with Dewan Motors’ Honri VE recording sales of 63 units in Nov’24.
- Indus Motors Company Ltd (INDU) reported a 27% MoM decrease in volumetric sales for Nov’24, totaling 1,854 units. This increase was primarily driven by a substantial 93% MoM decline in sales of the Fortuner and Hilux models. Furthermore, Corolla, Yaris, and Corolla Cross models also experienced a decline of 13% MoM.
- Pak Suzuki (PSMC), reported a 33% decrease MoM, maintaining sales at 4,738 units. Major decline was witnessed in PSMC’s Bolan sales by 80% MoM. In addition, sales of Cultus, Wagon R and Alto witnessed a decline of 48%, 11% and 41% MoM. While other vehicles, such as Swift and Every’s sales jumped by by 178% and 147% respectively, on a MoM basis.
- Moreover, Honda Atlas Cars (HCAR) recorded a 27% Month-on-Month decrease in November ’24, on account of a 29% Month-on-Month decrease in Civic/City sales. Meanwhile, Honda HRV/BRV sales witnessed an increase of 6% Month-on-Month.
- Sazgar Engineering (SAZEW) registered a 42% MoM decrease in sales, recording 584 units sold. This decline is primarily attributed to a 42% MoM decrease in Haval sales.
- Two-wheeler sales volumes declined by 13% MoM in Nov’24. Atlas Honda (ATLH) achieved sales of 100,588 units, showcasing a 13% MoM decrease.
- Tractor sales saw a significant 98% Month-on-Month increase in November ’24, driven by a 584% Month-on-Month surge in AGTL sales, which reached 2,012 units. On the other hand, MTL experienced a 2% Month-on-Month decline, with sales totaling 1,416 units. The overall rise can be attributed to the low base effect and the distribution of tractors under the Punjab government’s Green Tractor Scheme.
Courtesy – AHL Research
