Despite Pakistan’s automotive industry facing ongoing difficulties, March 2024 brought signs of improvement in car sales. Monthly passenger vehicle sales reached 7,672 units, a slight decline of 6.1% compared to the corresponding month last year. However, challenges remain for Pakistani buyers, including a struggling economy, currency depreciation, and high vehicle taxes.
In contrast, India’s passenger vehicle market continues to thrive amidst global supply chain restrictions and rising input costs. On March 24th alone, over 3.69 lakh cars were sold, translating to an impressive 12,000 cars sold daily. This represented a substantial 10 percent growth compared to March 2023, highlighting the growing competition in the South Asian automotive market.
The disparity between Pakistan and India’s automotive sectors is evident, with several prominent manufacturers ceasing operations in Pakistan. Rumors persist of others considering similar exits if conditions do not improve. To stay informed about the latest developments in the automotive industry, follow TOI Auto on Facebook, Instagram, and other social media platforms.
