Pakistan’s car sales experienced a notable increase in August 2024, totaling 8,699 units, which marks a 15% year-on-year (YoY) and 1% month-on-month (MoM) rise, according to data reported by the Pakistan Automotive Manufacturers Association (PAMA).

This growth brings the total sales for the first two months of the fiscal year 2025 to 17,288 units, reflecting a 36% YoY increase from 12,670 units in the same period last year.

The surge in sales is attributed to the introduction of newer car variants and a favorable base effect.

Sazgar Engineering (SAZEW) led the growth with a remarkable 606% YoY and 9% MoM increase, selling 953 units in August. This achievement marks the second-highest monthly sales for SAZEW, following the 967 units sold in January 2024, according to a report by Topline Securities.

Honda Atlas Cars (HCAR) also saw a significant rise, with sales reaching 1,148 units, a 70% YoY and 23% MoM increase. Meanwhile, Indus Motor Company (INDU) recorded sales of 2,129 units, up 38% YoY and 28% MoM. Corolla, Yaris, and Corolla Cross models contributed to this growth with a 40% YoY and 42% MoM increase.

However, Hyundai Nishat Motor experienced a 24% YoY decline, with sales falling to 591 units. In contrast, Pakistan Suzuki Motors Company (PSMC) saw a 14% YoY and 18% MoM increase, reaching 3,653 units.

In the motorcycle segment, sales of two and three-wheelers rose by 18% YoY and 23% MoM, totaling 104,234 units. Atlas Honda (ATLH) recorded sales of 90,853 units, reflecting a 21% YoY and 29% MoM rise.

The tractor segment saw mixed results, with Millat Tractors (MTL) sales down 50% YoY to 1,218 units, while Al Ghazi Tractors (AGTL) recorded a 45% YoY increase to 1,452 units. Overall, tractor sales reached 2,670 units, a decrease of 33% YoY but an 83% MoM increase.

Truck and bus sales were up 83% YoY but down 2% MoM, with 300 units sold in August 2024.