According to the Pakistan Automotive Manufacturers Association (PAMA), car sales in Pakistan saw a major boost in October 2024, with a 118% increase compared to the same month last year. A total of 10,557 units were sold in October 2024, up from 4,850 in October 2023. This surge was not only year-over-year but also included a 35% rise from September to October 2024.
Experts say this growth is due to factors like better purchasing power, easier access to auto financing, and the introduction of more vehicle options, especially hybrid and electric models. Additionally, reduced interest rates and the availability of interest-free financing have made it easier for consumers to buy new cars.
In the first four months of the fiscal year 2025, overall car sales grew by 47%. While this is a positive trend for the industry, experts caution that finding affordable car models for lower middle-class families remains a challenge. They point out that despite the growing range of cars, options within a reasonable price range are still limited, leaving a large part of the population without affordable choices.
