Pakistan Auto Sales Surge 15% YoY in August 2024 Recovery Continues
Similarly, sales were up by 22.64 percent compared to July 2024, when 84,993 units were sold.
According to the Pakistan Automotive Manufacturers Association (PAMA), sales in the first two months of FY25 (July and August) hit 189,227 units, which is 16.87 percent higher than the 161,906 units sold in the same period last year.
In August 2024, 107,154 motorcycles and three-wheelers were produced, 29.69 percent higher than the 82,620 units made in the same month last year.
Every month, production rose by 25.3 percent, with 85,516 units made in July 2024.
Annual auto sales surge despite monthly slump
Separately, the automotive industry in Pakistan witnessed a significant revival in August 2024, with total auto sales climbing by 15% to 8,699 units compared to the same period last year.
According to data from the Pakistan Automotive Manufacturers Association (PAMA), auto sales remained nearly stagnant in August 2024 compared to July 2024, showing only a 1% increase as the sector recovers from last year’s challenges.
In August 2024, the Pakistani automotive industry saw a 15% year-on-year (YoY) growth, attributed primarily to the low base effect caused by the hurdles faced in the previous year, said AHL Research. These challenges included restrictions on opening letters of credit (LCs) and low demand, which led to plant shutdowns across the industry. On a month-on-month (MoM) basis, sales grew by a mere 1%.
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