Pakistan 2024. Motorcycles Market Breaks in April 21 Negative Month String

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Honda CD70
Honda CD70

Pakistani Motorcycles Market finally sees the light. in April sales figures reported by the Minister of Transportation have been positive, with a total of 92.889 sales (+14.2%). Year to date figures are still negative at 341.382 (-8.1%).

 

Pakistani Motorcycles Industry Trend and Perspectives

In April the motorcycles market in Pakistan reported a positive y.-o.-y.- data, finally, breaking a declining series started in July 2022, so a string of 21 consecutive falling months.

In the last two years, the Pakistani economy and industry shrank as floods, uncertainty, and disrupted external support caused public investment to plunge and private investment and industry to contract. Inflation reached a 5-decade high as supply disruption and currency depreciation propelled increases in food and energy prices.

Demand for new 2 and 3 wheelers collapsed starting from July 2022 after that for the entire previous decade, the Pakistani motorcycles market had been one of the fastest growing worldwide, reaching a record (2021) of 1.8 million annual sales.

However, when flood disaster happened in July 2022 the market plummet losing near the half in the following 18 months, ending 2023 with only 994.530 registrations.

The start of 2024 was again disappointing, with first quarter sales at 248.483 (-14.3%) projecting a new decline for the entire year.

However, finally in April sales figures reported by the Minister of Transportation have been positive, with a total of 92.889 sales (+14.2%). Year to date figures are still negative at 341.382 (-8.1%).

All vehicles types and engine classes are declining sharply while, among the manufacturers, the leader Honda reports YTD sales down by 5.8%, ahead of United Auto (-17.7%), Road Prince (-26.2%) and Suzuki (-15.1%).

Honda CBR 150
Honda CBR 150
Pakistan Motorcycles
Honda-CB150R-Streetster