Passenger car sales surge by 49.7%

Passenger car sales went up by 49.7% to 38,534 units during the first five months of the current fiscal year compared to the same period last year because of a host of reasons, including various schemes being offered by auto companies, lower interest rates, the upcoming new year, and others. Moreover, the data of car sales shows a slight month-on-month fall but a year-on-year growth, while giving some optimistic and encouraging signs for the industry as customers usually go on a buying and spending spree in the ending months of every year. The Pakistan Automotive Manufacturers Association (PAMA) reported on Monday that truck and bus sales increased by 91.1% to 1,368 units and by 68.1% to 237 units, respectively. Jeep and pick-up sales surged by 55.4% to 12,259 units, while two-and-three-wheeler sales (motorbikes and rickshaws) rose by 25.9% to 578,364 units. However, the farm tractor industry experienced a decline, with tractor sales sliding by 50.2% to 10,367 units.