ISLAMABAD: Automobile sales increased by 30% in January this year compared to the same month last year, helped by a low base effect and new model introductions, The News reported on Wednesday.
However, sales were still down 49% in the first seven months of fiscal year, according to industry data released on Tuesday.
According to figures supplied by the Pakistan Automotive Manufacturers Association (PAMA), passenger car sales climbed by 30% in January 2024 to 7,802 units from 6,021 in January 2023.
In the first seven months of FY24, 38,464 units were sold, a 49% decrease from 74,933 units sold in the same period in FY23.
Sales climbed by 59% in January 2024, compared to 4,916 units sold in December 2023.
Mashood Ali Khan, an auto expert and former chairman of PAAPAM (Pakistan Association of Automotive Parts and Accessories Manufacturers), stated that there was a major issue with CKD in January last year, and Pak Suzuki’s plant was nearly closed, so sales increased in January this year, which is a good sign. However, seven-month sales are not promising.
He stated that economic and political instability had caused a drop in auto sales over the previous seven months, and that the auto industry’s crisis was far from ended.
“We have to look at the next quarter, as the crisis persists there due to uncertainty on the political and economic front,” he told reporters.
