The car sales increased by a staggering 55 percent in the fiscal year 2021–2022 that trend is expected to slow as financing prices rise and parts manufacturers fail to keep up with demand.
In its statement, Arif Habib Limited highlighted that in FY22, auto sales increased by 55 percent year over year to an all-time high of 279,700 units.
Automobile Manufacturers Association (PAMA) data revealed that June 2022 car sales increased by 103.5 percent from the same month the previous year.
In comparison to the 151,182 units sold during the same period the previous year, the association reported that passenger car sales climbed by 54.9 percent to 234,180 units in FY22. Sales increased by 103.5 percent to 23,547 units in June 2022 from 11,569 in June 2021.
Read more: Beating all bumps, car sales grow 25% to 27,131 in March
Sales of cars with 1,300cc or more were 104,321 units during the period, up 39% from 75,097 units during the same period last year. There were 35,197 Honda Civic and City cars, 6,190 Suzuki Swift designs, 56,528 Toyota Corolla and Toyota Yaris models, 3,610 Hyundai Elantra models, 2,782 Hyundai Sonata models, and 14 BAIC D20 models.
46,300 units of 1,000cc automobiles were sold, an increase from 30,169 units in FY21. Suzuki WagonR and Cultus totaled 23,131 and 23,169 units, respectively. Sales of vehicles with engines under 1,000cc were reported at 83,559 units, compared to 1,403 units sold during the same period last year.
From 4,347 units in FY21 to 6,498 units in FY22, more buses and trucks were manufactured.
In the meantime, sales of pickups and jeeps jumped from 30,215 units sold during the same period last year to 45,087 units this year. Tractor sales increased from 50,920 units to 58,947 units.
During FY22, rickshaw and motorcycle sales decreased marginally from the 1.903 million units sold during the same period the previous year to 1.821 million units.
According to Sunny Kumar, an analyst at Topline Securities, car sales—including those of non-PAMA members—rose by 24 percent month over month to 33,000 units, largely as a result of manufacturing problems being resolved and longer workweeks compared to May 2022.
The biggest monthly sales ever were 16,009 units for Pak Suzuki Motor Company (PSMC) and 1,871 units for Hyundai Nishat in June 2022. In June 2022, PSMC sales increased 31 percent month over month.
With the exception of the Wagon-R and Swift, whose sales decreased by 5% and 4%, respectively, month over month, all car versions of the company recorded growth in the range of 37 to 94 percent.
In a related manner, Hyundai Nishat’s sales increased by 9% month over month, driven by higher sales of the Tucson (897 units, up 40%) and Porter (283 units) (up 268 percent).
Due to an increase in sales of the Corolla and Yaris by 4,453 units, Indus Motors had a month-over-month gain of 7% to 6,309 units (up 4 percent). In June 2022, sales of the City and Civic rose by 18%, contributing to a 34 percent month-over-month increase in Honda Atlas Car to 3,903 units.
In the tractor category, Millat Tractors saw a month-over-month growth of 75% to 4,389 units, and Al-Ghazi Tractors saw a 33% increase to 3,201 units. Sales of all tractors increased by 16% year over year in FY22 to a total of 59,000 units.