Demand for vehicles started to increase significantly due to reduction in interest rate and stability in the market, reported 24NewsHD TV channel on Tuesday.
In this regard, Pakistan Auto Manufacturers Association has released the vehicle sales data.
According to the data, vehicle sales in October 2024 were 13,108 units as vehicle sales recorded a monthly increase of 27 percent and an annual increase of 112 percent.
In four months of this financial year, the sales of vehicles increased by 50 percent as the sales of vehicles were 40693 units.
Report said, Sazgar Engineering Company sold 1,002 units on October 24 as Sazgar Engineering Company's vehicle sales are 296 percent year-on-year and 21 percent month-on-month.
Pak Suzuki Motor Company sold 7,040 units in October 24 as the sales of Pak Suzuki vehicles increased by 85 percent year-on-year and 40 percent month-on-month.
Honda Atlas Motor sold 1,514 units as Honda Atlas Motors vehicle sales grew by 230 percent year-on-year and 19 percent month-on-month.
On the other hand, Indus Motor Company sold 2532 units.
Sales of trucks and buses recorded an increase of 102 percent year-on-year and 10 percent month-on-month while sales of tractors also increased by 61 percent month-on-month.
Due to better financial facilities and stability in the market, the demand for vehicles has increased.
Reporter: Ashraf Khan