Despite inflation claims, car sales in Pakistan hit highest level of history
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Despite inflation wreaking havoc across several industries, the demand for cars in Pakistan remains at an all-time high. The big three, in particular, have witnessed a monumental rise in car sales while Hyundai Nishat Motors Private Limited (HNMPL) has observed a slight decline.
According to a recent report from Pakistan Automotive Manufacturer’s Association (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 Over Year (YoY) increase of 30 percent.
In February, Toyota Indus Motor Company (IMC) sold 7,068 units and recorded an 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 same period, observing an MoM decrease of 11 percent.
HACL sold 3,651 cars, recording an MoM increase of 33 percent, and a YoY increase of 16 percent, while PSMC sold 15,011 units and recorded an MoM increase of 18 percent and a YoY increase of 48 percent.
