In July 2024, sales of automobiles, SUVs, trucks, and vans totaled 8,589 units, indicating a 60% rise on an annual basis but a 36% decrease on a monthly basis.
The rise in withholding tax rates included in the FY25 budget is mostly to blame for the July auto sales fall. Pre-buying in the final month of FY24 led to an 18-month high in June sales.
The Pakistan Automotive Manufacturers Association (PAMA) has revealed data showing that sales of Toyota’s Corolla, Yaris, and Corolla Cross jumped from 1,067 units in July 2023 to 1,106 units in July 2024. In the same time frame, sales of Toyota Fortuner and Revo also increased, rising from 301 to 558 units. In July 2024, however, Indus Motor Company’s total sales decreased by 44% month over month.
