Automobile industry registered significant surge in sales in January 2024

Engineering Post Report

Automobile industry of Pakistan on the whole registered a significant surge in sales during the first month of new year January 2024. As per information available, a total number of 10536 vehicles of sorts were sold all over the country including cars, jeeps, vans and pickups. This represents an appreciable 81 percent increase from 5816 automobiles which were sold throughout the country in the previous month of December 2023.

According to the facts based on the information available from the Pakistan Automobile Manufacturers Association (PAMA), despite this monthly upward surge, the sales throughout the country were still lower by 5 percent on a year- to- year basis as 11124 units were sold in January 2023.

On the whole, during the first seven months of financial year 2023-24, a contrasting trend was noticed as the sales were reported to have plummeted by as much as by 48 percent to 49990 units from high figures of 95240 during the corresponding period of the previous fiscal year 2022-23.