Car sales in Pakistan hit 15-year low in FY 2023-24: PAMA data

Car sales in Pakistan plummeted to their lowest level in 15 years during the fiscal year 2023-24, as reported by the Pakistan Automotive Manufacturers Association (PAMA).

The data reveals that sales of cars, including light commercial vehicles (LCVs), vans, and jeeps, declined by 18.2 per cent year-on-year, amounting to 103,826 units by the end of the fiscal year on June 30, 2024.

This marks the lowest sales figures since FY 2009.

In comparison, 126,878 units were sold in the previous fiscal year, while the average sales over the past five years stood at 188,030 units.

Furthemore, passenger car sales decreased by 15.7 per cent year-on-year to 81,577 units during the fiscal year, compared to 96,811 units recorded in the previous year.

Total production of passenger cars was 79,573 units in FY24, a 22.0 per cent decline from the 101,984 units produced last year.

The PAMA data also highlighted that the highest number of passenger car sales occurred in the ‘Below 1000cc’ category, with 38,657 units sold in FY24.

Within this segment, Suzuki Alto led with 35,883 units sold, followed by Suzuki Bolan with 2,774 units.