Fortuner and Cultus See Unbelievable Growth as Car Sales Jump in FY 2021
The recent rise of the auto sector in Pakistan has been a hot topic among analysts and car enthusiasts due to the amazing sales and production numbers recorded this year.
As per the recent report published by Pakistan Automotive Manufacturers Association (PAMA), car sales have increased by a massive 61.89 percent between July and November of 2021 on a Year-Over-Year (YOY) basis.
The latest data suggests that 90,303 cars were sold in the said period as compared to 55,779 units during the same time last year. Likewise, the car sales jumped by 28.84 percent in November 2021 on a YOY basis, recording sale of 15,351 units, compared to 11,914 units during the same time last year.
The breakup of some of the more popular vehicle sales is as follows:
|Popular Vehicles||Sales b/w July and November 2020||Sales b/w July and November 2021||% Change|
|Honda Civic and City||10,429||13,215||26.71|
|Suzuki Wagon R||4,539||8,768||93.17|
It is believed that following the State Bank of Pakistan’s (SBP) and the government’s efforts to curb the sales of CBU vehicles, it is likely that the overall vehicle sales would take a hit in the coming days.
However, with the incentives provided to locally produced vehicles — especially Electric vehicles and smaller ones — the sales and production figures could be compensated from the “economy car” end of the spectrum. With these developments afoot, it will be interesting to see how the Pakistani car industry fares in the coming days.