Karachi, Auto sales in April are projected to continue their recovery, doubling year-over-year, although month-over-month figures show a decline, primarily impacted by lower sales from HCAR. Despite these mixed trends, substantial growth is anticipated across all major auto manufacturers.

According to JS Global, sales for the three listed auto assemblers are expected to have a robust performance this April compared to last year, when HCAR's operations were halted. This year, all companies were fully operational, contributing to the surge. PSMC is maintaining its upward trajectory, marking the fourth month of reporting over 4,000 units, a notable increase from its average of 3,200 units in 2023. INDU also continues to perform well with its new Corolla Cross model, stabilizing at 500 units per month since its launch.

Despite strong sales in passenger cars leading the overall market growth, auto financing is seeing a significant downturn, with a 24% year-over-year decline in March. The high financing rates, peaking over 22%, dampen hopes for a short-term recovery in auto loans, which are critical for sustaining long-term demand. However, industry analysts remain optimistic about potential rate cuts in the next fiscal year, which could rejuvenate market demand.

The report also highlights recent price adjustments by manufacturers, with PSMC reducing prices for its Swift model by 2%-13% as part of a limited-time offer, following similar cuts by other manufacturers on different models at the end of April. These price reductions come in a bid to boost sales amid competitive and economic pressures.

JS Global, the source of these insights, maintains a rigorous standard in its research practices, ensuring that their analysis reflects unbiased, comprehensive viewpoints without any influence from non-research departments.