Car sales in Pakistan continued to recover after the COVID-19 disaster as sales of local assembled vehicles saw an improvement of 19% with 13,882 units sold in September.
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According to the data released by PAMA (Pakistan Automobile Manufacturer’s Association), on M-o-M basis, Toyota, Honda and Suzuki sales witnessed recovery by 32%, 20% and 8% respectively however on Y-o-Y basis, Suzuki suffered from a 20% decline whereas Toyota and Honda sales stood 106% and 87% higher.
1300cc & above cars saw 30% more sales in September with 6,185 units sold in comparison with 4,748 units in August. Sales of 1,000cc cars however, declined by 9% from 2,143 units in August to 1,947 units in September. Below 1,000cc category also show a 20% improvement with 11,860 units sold compared to 9,885 units in the preceding month. Sales of 4x4s & pickups also showed 13% recovery from 1,857 units in August to 2,102 units in September.
In addition to old players, newcomers including Hyundai and Kia are also witnessing a rise in demand. According to analysts, demand for new cars is expected to grow stronger in future owing to lower interest rates for auto financing along with revival in economic activities after the ease in COVID-19 lockdowns.