Car sales in FY22 hit an all-time high, jumping 55%. Despite fuel prices increasing, parts of cars are getting expensive, this is a record sale in 2022. Data released by Automotive Manufacturers Association (PAMA), showed that car sales rose 103.5% in June 2022 year-on-year.
Important Points:-
⦁ The analyst cites the resolution of production issues as a major reason behind the monthly increase.
⦁ Yearly auto sales reach an all-time high of 279,700 units in FY22.
⦁ Car sales clock in at 33,000 units in June up by 24% month-on-month.
The association reported that passenger car sales (PAMA member cars) increased by 54.9% to 234,180 units in FY22 compared with 151,182 units sold during the same period last year. Sales in June 2022 remained higher by 103.5% to 23,547, compared with 11,569 units in June 2021.
Sales of different vehicles are given below:-
⦁ The sale of 1,000cc cars was recorded at 46,300 units, up from 30,169 units during the FY21.
⦁ Buses and trucks saw an increase to 6,498 units in FY22 from 4,347 units in FY21.
⦁ Meanwhile, the sale of jeeps and pick-ups increased to 45,087 units from 30,215 units sold during the same period last year. Sales of tractors rose to 58,947 units from 50,920 units.
⦁ The sale of rickshaws and motorbikes slightly fell to 1.821 million units during FY22 against 1.903 million units of the same period last year. ed at 46,300 units, up from 30,169 units during the FY21.
⦁ Millat Tractors recorded an increase of 75% month-on-month to 4,389 units and Al-Ghazi Tractors’ sales up 33% to 3,201 units. This takes total tractor industry sales to 59,000 units, up 16% year-on-year in FY22.
Pak Suzuki Motor Company (PSMC) and Hyundai Nishat recorded the highest ever monthly sales of 16,009 units and 1,871 units in June 2022. PSMC sales were up 31% month-on-month in June 2022. “All variants of the company reported an increase in a range of 37-94% on a month-on-month basis except for Wagon-R and Swift where sales were down by 5% and 4% month-on-month, respectively.
