Pakistan FY24 Motorcycle Sales Hit 10-Year Low Despite June Surge
The report said total sold units dropped to 1.15 million from 1.19 million in the previous fiscal year.
However, June 2024 saw a year-on-year sales increase of 8.38 percent. Despite this monthly improvement, a significant month-on-month decline of 24.34 percent was recorded, reflecting the volatile nature of the market.
This marks the third consecutive fiscal year of declining sales, with figures reaching almost a 10-year low in FY24.
Production trends mirrored sales figures, with total motorcycles and three-wheeler production also recorded at 1.15 million units in FY24, marking a decrease of approximately 3 percent compared to FY23. In June 2024, production stood at 87,844 units, representing a 9.94 percent increase from June 2023, but a steep 27.14 percent drop from May 2024.
During July-April 2023-24, as many as 941,406 motorbikes and three-wheelers were sold against the sale of 1,006,839 units in July-April (2022-23), according to the Pakistan Automobile Manufacturing Association (PAMA).
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