The automotive market in Pakistan has shown remarkable growth, with car sales reaching 9,820 units in December 2024, marking a 69% year-on-year (YoY) increase. However, a 3% month-on-month (MoM) dip was observed, attributed to seasonal factors, as buyers delayed purchases for new year registrations, according to Topline Securities.
The YoY surge in car sales is attributed to several factors, including:
These factors have also fueled growth throughout the first half of fiscal year 2025 (1HFY25), with total car sales reaching 60,676 units, a 54% increase from 39,453 units during the same period last year (1HFY24).
The total car sales for 2024 stood at 125,050 units, a 52% increase compared to 82,215 units in 2023.
With the inclusion of non-PAMA members and the anticipated release of data from Sazgar Engineering Works (SAZEW), overall industry car sales for 2024 are projected to show a 51% increase.
The two-wheeler and three-wheeler segment demonstrated strong growth, with a 43% YoY increase in December 2024, totaling 118,091 units. However, there was a slight 2% MoM decline in sales.
The tractor industry recorded exceptional growth, driven by the Green Tractor Scheme, with sales soaring:
The truck and bus segment reported a mixed performance:
Pakistan’s automotive market is experiencing a robust recovery, with significant growth across the car, motorcycle, and tractor segments. The steady rise in consumer confidence, government initiatives like the Green Tractor Scheme, and the introduction of new models and variants have contributed to this positive momentum.
As the market progresses into 2025, industry stakeholders remain optimistic about continued growth, further fueled by favorable economic conditions and enhanced consumer demand.
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