Pakistan’s auto industry has witnessed unprecedented growth over the past 18 months, setting a new sales record, as reported by ARY News. In the last fiscal year alone, 81,577 cars were sold, marking a significant turnaround for the sector. According to the Pakistan Automotive Manufacturers Association (PAMA), June 2024 saw an extraordinary 138% increase in car sales compared to the same period last year, with 10,128 units sold, up from 4,257.
PAMA attributes this surge to a robust demand across various vehicle categories. Cars above 1300cc experienced a notable 174% boost in sales, while buses and trucks also saw substantial increases. This growth underscores a positive trend in the local automotive market, despite earlier discussions about potential tariff adjustments on larger vehicles.
The anticipated regulatory changes include a proposed 30% increase in duty for vehicles over 1800cc and adjustments for imported used vehicles up to 1800cc. New and old hybrid vehicles up to 1800cc may continue to benefit from zero duty, amid concerns about affordability and market dynamics.
