By This month, we are back with the latest update on local car assemblers’ earnings for September 2024. As we bring this report every mid-month, this time, there’s good news for the automotive industry.
After a modest 1% rise in August 2024, car sales in Pakistan surged by 18% in September 2024. According to the Pakistan Automotive Manufacturers Association (PAMA) report, local car makers sold 10,297 units in September, a notable increase from 8,699 vehicles sold in August 2024.
Year-on-Year Growth
On a year-on-year (YoY) basis, the growth is even more impressive, with sales rising by 24%. In September 2023, car manufacturers sold 8,312 units, while in September 2024, the figure jumped to 10,297 cars.
Motorcycle and Three-Wheeler Sales
The motorcycle and three-wheeler segment also saw a significant boost. In September 2024, local bike manufacturers reported a 26% increase in sales, reaching 130,960 units, compared to 104,234 units in August 2024. On a year-on-year basis, bike sales surged by 22%, with 130,960 units sold in September 2024 versus 107,084 units during the same period last year.
Brand-Wise Sales Breakdown
- Atlas Honda: Sales saw a 22% increase, reaching 110,139 units in September, compared to 90,483 units in August 2024.
- Pak Suzuki: Registered an 8% increase, selling 2,049 bikes last month, up from 1,906 units in August 2024.
- Toyota Pakistan: Sales rose by 11%, with 2,367 units sold in September, up from 2,129 units in August 2024.
- Honda Atlas: Experienced an 11% growth, selling 1,269 units last month compared to 1,148 units in August 2024.
- Pak Suzuki Motors: Recorded a staggering 37% increase, with 5,013 vehicles sold in September compared to 3,653 cars in August 2024.
- Hyundai Nishat: Observed a 15% rise, selling 677 units last month compared to 591 units in August 2024.
- Sazgar Engineering: Saw a decline of 13%, selling 827 cars in September 2024, down from 952 units in August 2024.
It’s important to note that sales data for Kia Lucky Motors, Master Changan Motors, Regal Motors, MG Motors, and Al-Haj Proton were not included in the report, as these brands are not PAMA members.
Model-Wise Breakdown
- Suzuki Alto: Saw a massive 56% increase in sales, with 3,146 units sold in September compared to 2,203 in August.
- Suzuki Ravi: Remarkably, sales soared by 5657%, with 403 units sold, up from just 7 units in August.
- Toyota Corolla & Yaris: Sales rose by 20%, with 1,883 units sold in September compared to 1,565 units in August.
- Honda BR-V & HR-V: Sales jumped by 68%, with 126 units sold compared to 75 units in August.
MoM Comparison of Key Models
| Car Model | August 2024 | September 2024 | Difference |
|---|---|---|---|
| Suzuki Alto | 2,203 | 3,146 | +56% |
| Suzuki Cultus | 131 | 59 | -55% |
| Suzuki Wagon R | 190 | 182 | -4% |
| Suzuki Bolan | 743 | 615 | -17% |
| Suzuki Ravi | 7 | 403 | +5657% |
| Suzuki Swift | 559 | 608 | +9% |
| Toyota Corolla & Yaris | 1,565 | 1,883 | +20% |
| Toyota Fortuner & Hilux | 564 | 484 | -14% |
| Honda City & Civic | 1,703 | 1,143 | -33% |
| Honda BR-V & HR-V | 75 | 126 | +68% |
| Hyundai Tucson | 276 | 261 | -5% |
| Hyundai Sonata | 63 | 58 | -8% |
| Hyundai Elantra | 70 | 100 | +53% |
| Hyundai Porter | 182 | 258 | +42% |
The local automotive industry in Pakistan continues to recover with significant growth in both car and motorcycle sales. The surge in car sales by 18% and bike sales by 26% in September 2024 reflects a positive trend for local manufacturers, signaling a healthier market.
