Car sales rise 11pc in August

Karachi, Pakistan witnessed a 11% year-on-year increase in car sales by traditional automakers in August, according to the Pakistan Automotive Manufacturers Association (PAMA). However, the growth slowed to a 21% decline month-on-month, primarily due to the emergence of New Energy Vehicles (NEVs) in the market. The figure, excluding data from Sazgar Engineering Works Ltd, stood at 15,558 units.

Despite the monthly decline, the positive trend for the year continues, with the association forecasting improvement in auto sales for the current fiscal year. This optimism is bolstered by the introduction of new car variants and the entry of fresh brands into the market.

Yet, the PAMA cautioned that the August dip compared to July was mainly due to uncertainty about the new auto policy and a volatile regional atmosphere impacting the supply chain. Indus Motor Company, a Toyota assembler, reported a 19% year-on-year rise to 4,029 units in August, contrasting with a 21% month-on-month decline. The company's success was attributed to the popularity of Corolla, Yaris, and Cross models, which saw a 21% year-on-year increase, reaching 3,079 units. Fortuner and IMV sales also climbed by 12% compared to August last year.

Honda Atlas Cars experienced sales growth year-on-year to 2,633 units in August, although sales remained constant month-over-month. Pakistan Suzuki Motor Company saw a 7% year-on-year increase in sales to 7,633 units in August, but a 25% decline compared to July. Sales of two- and three-wheelers rose 20% year-on-year and 3% month-on-month to 178,119 units in August. Meanwhile, truck and bus sales grew by 31% year-on-year but fell 5% month-over-month to 875 units.