The sale of passenger cars witnessed a decline of 18 percent on a month-on-month basis in April 2022 after observing an upsurge of 26 percent in March; however, it recorded a robust growth of 51 percent on a year-on-year basis during the first 10 months (July-April) of the current fiscal year 2021-22.
The data released by the Pakistan Automotive Manufacturers Association (PAMA) on Thursday showed that passenger car sales remained 18,625 units in April against 22,799 units sold in March. The decline came on the back of price hikes due to rupee’s depreciation against the US dollar, higher interest rates and higher taxes coupled with reduced working hours during the holy month of Ramazan.—TLTP
