Car sales reach 18-month high, surge 120% YoY

According to a report released by Topline Research on Wednesday, Pakistan car sales, as reported by the Pakistan Automotive Manufacturers Association (PAMA), hit an 18-month high in June 2024, recording sales of 13,300 units. This marks a 21% increase month-on-month (MoM) and a 120% increase year-on-year (YoY). The MoM increase in car sales is driven primarily by Indus Motors Company Limited (INDU), which saw a 44% rise to 2,957 units, and Pak Suzuki Motor Company (PSMC), which recorded a 15% increase to 6,885 units. Hyundai Nishat Motor saw sales of 1,059 units, a 55% MoM rise, while Sazgar Engineering (SAZEW) recorded a 12% increase to 871 units. Honda Atlas Cars (HCAR) was the only company to see a decline, with sales down 8% MoM to 1,095 units in June 2024.