Pakistan’s Automobile Sales Results in YTD June 2022

In Pakistan, sales of locally-assembled vehicles (PAMA members only) rose 41.3% year-on-year to 146,727 units in the first half of 2022. Although import costs of SKD and CKD kits have increased since November 2021 due to further depreciation of the local currency, the improvement in consumer purchasing power is outweighing the increase in selling prices. In addition, the China-Pakistan Economic Corridor, which is part of China's One Belt, One Road initiative, is believed to have contributed to the increase in sales due to factors such as the ability to import Chinese auto parts at low prices. As a result, monthly sales volume for the 23 months since August 2020 has continuously exceeded the same month of the previous year.