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Car sales skyrocket 90% in FY21
Demand, however, remains 28% lower compared to peak recorded in FY18
KARACHI:
The total number of cars sold in Pakistan in fiscal year 2020-21 soared 90% compared to the previous fiscal year (FY20), but sales remained 28% lower than the all-time high of 329,000 units reached in FY18.
Pakistan’s total car sales were estimated to have increased by 90% year-on-year to 238,000 units in fiscal year 2020-21, stated a report released by Topline Securities on Tuesday.
The report took into account sales by Pakistan Automotive Manufacturers Association (PAMA) and non-PAMA members as well as imports.
According to it, PAMA members sold 181,000 units during fiscal year 2020-21, which was 62% higher than fiscal year 2019-20.