According to the car sales figure released by the Pakistan Automotive Manufactures Association (PAMA) for March 2021, the auto industry sold 20,813 vehicles in March 2021, representing a massive 197.2 percent year-over-year (YoY) increase over March 2020 and a 26.6 percent month-over-month (MoM) increase over February 2021.
The data also shows that Pak Suzuki Motor Company (PSMC) has once again left the market in the dust, selling 10,161 vehicles in March 2021, representing a 14.1 percent month-on-month rise and a massive 280.1 percent year-on-year increase.
According to the figures, Toyota Indus Motor Company (IMC) sold 6,695 vehicles in March 2021, up 158 percent year over year and 52 percent month over month. Last month, Honda Atlas Cars (HCAR) sold 3,153 vehicles, a 29.8% rise month over month and a 101.6 percent increase year over year.
This sharp rise in car sales is a positive sign for the economy. Furthermore, the good performance of the Pakistani rupee against the US dollar, which has resulted in a slew of new automakers entering the Pakistani market, could portend brighter days ahead for our auto industry.
