Despite inflation claims, car sales in Pakistan hit highest level of history

Despite inflation wreaking havoc across several industries, the demand forcars in Pakistan remains at an all-time high. The big three, in particular,have witnessed a monumental rise in car sales while Hyundai Nishat MotorsPrivate Limited (HNMPL) has observed a slight decline.

According to a recent report from Pakistan Automotive Manufacturer’sAssociation (PAMA), the auto sector recorded a total of 27,131 car sales,recording a Month Over Month (MoM) increase of 25 percent and a Year OverYear (YoY) increase of 30 percent.

In February, Toyota Indus Motor Company (IMC) sold 7,068 units and recordedan MoM increase of 53 percent and a YoY increase of 6 percent in sales.Hyundai Nishat Motors Private Limited (HNMP) sold 1,307 cars in the sameperiod, observing an MoM decrease of 11 percent.

Read Top Stories

Pakistan Air Force Set to Induct Advance Variant of China’s J-35 Stealth Fighters

Four Policemen Including SHO Martyred, DSP Injured in a Terrorist Attack in Pakistan

PM Shehbaz Sharif to Attend Gaza Board of Peace Inaugural Meeting in Washington

Pakistan Military To Act Against Terrorists Camps Inside Afghanistan: Report

HACL sold 3,651 cars, recording an MoM increase of 33 percent, and a YoYincrease of 16 percent, while PSMC sold 15,011 units and recorded an MoMincrease of 18 percent and a YoY increase of 48 percent.