PAMA Announces 36% Decline in Car Sales Last Month

Jawad

13 Aug 2024

161

PAMA Announces 36% Decline in Car Sales Last Month

Following a period of incremental increases, car sales have experienced a significant downturn. According to the Pakistan Automotive Manufacturers Association (PAMA), sales plummeted by 36% in July 2024. The data reveals that 8,589 vehicles were sold last month, a sharp decline from the 13,284 units sold in June 2024. This downturn highlights a challenging month for the automotive industry.

Year-on-Year Growth Shows Positive Trend

Despite the recent drop, there is a notable year-on-year (YoY) growth of 60%. Local manufacturers saw an increase in sales from 5,377 vehicles in July 2023 to 8,589 vehicles in July 2024. This positive trend indicates a substantial improvement compared to the same period last year, even though the month-on-month figures reflect a different scenario.

Motorcycles and Three-Wheelers

The motorcycle and three-wheeler sector also faced a decline. Sales dropped by 5% in July 2024, totaling 84,993 units compared to 89,895 in June 2024. Notably, Atlas Honda experienced a 12% decrease, with sales falling to 70,255 units from 80,204 units in the previous month. Conversely, Pak Suzuki reported a 5% increase, selling 1,643 units compared to 1,570 units in June 2024.

Trucks and Buses

Sales of trucks and buses showed a slight improvement, rising by 3% last month. A total of 307 units were sold in July 2024, up from 299 units in June 2024. This modest increase reflects a stable demand in the commercial vehicle sector, contrasting with the overall decline in passenger car sales.

Company and Car-Wise Sales Breakdown

The company-wise sales breakdown reveals substantial decreases for several manufacturers. Toyota Pakistan saw a 44% drop, with sales falling to 1,664 units from 2,957 units in June 2024. Honda Atlas experienced a 15% decrease, selling 931 units compared to 1,095 units in the previous month. Pak Suzuki Motors' sales fell by 35%, with 4,470 units sold compared to 6,885 units in June 2024. Hyundai Nishat saw a dramatic 50% decrease, with 529 units sold compared to 1,059 units in June 2024. It is important to note that sales figures for Kia Lucky Motors, Master Changan Motors, Regal Motors, MG Motors, and Al-Haj Proton are not included in this report due to their non-membership with PAMA.

Car-Wise Sales Details

A detailed breakdown of sales by model shows the following figures: PSMC (Pakistan Suzuki Motor Company) sold 2,869 units of Alto, 96 units of Suzuki Cultus, 139 units of Suzuki Wagon R, 502 units of Suzuki Swift, 288 units of Suzuki Bolan, and 576 units of Suzuki Ravi. Toyota Indus sold 1,106 units of Corolla and Yaris, and 558 units of Fortuner and Hilux. Honda Atlas sold 790 units of City and Civic, and 141 units of BR-V. Hyundai Nishat reported sales of 33 units of Elantra, 34 units of Sonata, 349 units of Porter, and 113 units of Tucson.

Car Model	June’24	July’24	Difference
Suzuki Alto	4,352	2,869	-34%
Suzuki Cultus	526	96	–82%
Suzuki Wagon R	372	139	-63%
Suzuki Bolan	356	288	-19%
Suzuki Ravi	340	576	69%
Suzuki Swift	939	502	-47%
Toyota Corolla & Yaris	2,293	1,106	-52%
Toyota Fortuner & Hilux	664	558	-16%
Honda City & Civic	982	790	-20%
Honda BRV & HRV	113	141	25%
Hyundai Tucson	495	113	-77%
Hyundai Sonata	112	34	-70%
Hyundai Elantra	196	33	-83%
Hyundai Porter	256	349	36%