Car sales in Pakistan totaled 8,699 units in Aug 2024, reflecting a 15% YoY and 1% MoM increase in sales, as reported by PAMA. This takes 2MFY25 sales to 17,288 units, a 36% YoY rise from 12,670 units in 2MFY24. The increase in auto sales is due to newer variants in the market and a lower base effect.

§  Sazgar Engineering (SAZEW) saw the most significant rise of 606% YoY and 9% MoM to 953 units in Aug 2024. This marks the second-highest monthly sales for SAZEW, just behind the 967 units sold in Jan 2024.

§ Honda Atlas Cars (HCAR) sales rose to 1,148 units, a 70% YoY and 23% MoM rise, while Indus Motor Company (INDU) recorded 2,129 units, a 38% YoY and 28% MoM rise.

§  Corolla, Yaris and Corolla Cross sales rose by 40% YoY and 42% MoM. City and civic sales rose 118% YoY and 35% MoM in Aug 2024.

§  Hyundai Nishat Motor saw a 24% YoY fall while a 12% MoM rise to 591 units in Aug 2024. Pakistan Suzuki Motors Company (PSMC) saw a 14% YoY and 18% MoM fall to 3,653 units in Aug 2024.

§ In the motorcycle segment, Pakistan’s 2-wheeler and 3-wheeler sales increased by 18% YoY and 23% MoM, totaling 104,234 units in Aug 2024. Atlas Honda (ATLH) recorded sales of 90.5K units, reflecting a 21% YoY and 29% MoM rise.

§  In the tractor segment, Millat Tractors (MTL) saw sales of 1,218 units, down 50% YoY while up 101% MoM. Al-Ghazi Tractors (AGTL) recorded sales of 1,452 units, down 7% YoY but up 70% MoM in Aug 2024. This brings total tractor industry sales to 2,670 units, a decrease of 33% YoY but up 83% MoM.

§  Truck and bus sales were up 83% year over year but down 2% Month over Month, reaching 300 units in August 2024.

Courtesy – Topline Pakistan Research