Pakistan’s car sales clocks at 24,000 units during August 20211 min read
KARACHI: Pakistan’s car sales in August 2021 clocked in at 24,000 (including non PAMA member KIA) down 13% MoM.
As reported by Pakistan Automotive Manufacturers Association (PAMA), auto sales were down 13 per cent month on month (MoM) and up 85 per cent year on year (YoY) to 21,751 units.
On MoM basis, car sales were down due to high base as Indus Motors (INDU) and Pak Suzuki (PSMC) recorded highest ever monthly sales in July 2021 due to announcement of incentives in budget and strong demand backlog.
Honda Atlas (HCAR) sales were up 40% MoM to 3,230 units in August 2021 amid launch of its new model Honda City during the month.
Hyundai Nishat posted growth of 53% MoM due to strong demand of its recently launched cars Hyundai Elantra and Sonata.
Pakistan Car sales on YoY basis was up 85% in August 2021 led by economic recovery, low interest rates and launch of new models. In two months of current fiscal year 2021-22, car sales increased by 87% YoY to 46,669 units.
Pakistan bike sales as reported by PAMA were up 2% MoM and 5% YoY to 148,000 units. ALTH sales were up 18% YoY to 100,000 units in August 2021.
Trucks and buses posted 27% MoM decline however was up 54% YoY as transportation activity picked pace and lockdowns eased in Aug 2021 compared to last year.
Pakistan tractor sales were up 17% YoY and down 23% MoM to 3,316 units. MTL sales were down 9% YoY and 31% MoM respectively