In June 2024, Pakistan’s automotive sector displayed vigorous recovery signs, marked by a significant 21% month-on-month (MoM) increase in car sales, according to the Pakistan Automotive Manufacturers Association (PAMA).
The total car sales surged to 13,284 vehicles, up from 10,949 in May 2024, showcasing a notable 120% year-on-year (YoY) growth compared to the same period last year.
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Among the key manufacturers, Toyota Pakistan led with a 44% increase, selling 2,957 units, while Pak Suzuki followed with a 15% rise, selling 6,885 vehicles. However, Honda Atlas experienced an 8% decline, selling 1,097 units. Hyundai Nishat recorded a remarkable 55% increase, selling 1,059 units.
Conversely, sales of motorcycles and three-wheelers declined by 24%, totaling 89,895 units, with Atlas Honda’s sales dropping by 22% to 80,204 units. Trucks and buses saw a 21% increase, reaching 299 units in June 2024.
The stability of the Pakistani Rupee against the US dollar was cited as a contributing factor to this positive trend in the automotive market.
