Pakistan witnesses 56% annual drop in car sales
ISLAMABAD, Jan 12: The automotive industry in Pakistan faces a substantial setback as car sales plummet by 56% on an annual basis in the first six months of the current fiscal year, as reported by the All Pakistan Automotive Manufacturers Association.
Statistics reveal that a mere 30,662 car units were sold in the country during the initial half of the current fiscal year, marking a stark decline compared to the 68,912 units sold in the corresponding period of the previous financial year.
For the month of December alone, car sales recorded a staggering 64% decline from December 2022, with only 4,916 units sold. In contrast, December 2022 witnessed 13,780 units being sold. While there was a marginal 1% monthly increase in car sales from November to December, the overall trend remains indicative of a challenging period for the auto industry.
The November figures recorded 4,875 units, slightly edging up to 4,916 units in December. The slump in car sales continues to raise concerns within the automotive sector.
