Pakistan: Passenger Car Market 2024

Passenger Car Market Size in Pakistan

The Pakistani passenger car market skyrocketed to $X in 2021, rising by 153% against the previous year. In general, consumption recorded a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Passenger Car Production in Pakistan

In value terms, passenger car production stood at $X in 2021 estimated in export price. In general, production, however, showed a resilient increase. The growth pace was the most rapid in 2015 when the production volume increased by 92% against the previous year. Passenger car production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Passenger Car Exports

Exports from Pakistan

For the third year in a row, Pakistan recorded growth in shipments abroad of passenger cars, which increased by 2.3% to X units in 2021. In general, exports, however, showed a dramatic contraction. The pace of growth was the most pronounced in 2017 when exports increased by 799% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, passenger car exports skyrocketed to $X in 2021. Overall, exports, however, saw a perceptible decrease. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for passenger car exports from Pakistan, with a 162% share of total exports. Moreover, passenger car exports to the United Arab Emirates exceeded the volume sent to the second major destination, Afghanistan (X units), fivefold. The third position in this ranking was held by Somalia (X units), with a 19% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at +58.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (+76.0% per year) and Somalia (+37.3% per year).

In value terms, Japan ($X), the United Arab Emirates ($X) and Afghanistan ($X) constituted the largest markets for passenger car exported from Pakistan worldwide, with a combined 72% share of total exports.

Among the main countries of destination, Afghanistan, with a CAGR of +62.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, increasing by 159% against the previous year. Over the period under review, the export price saw a significant expansion. The growth pace was the most rapid in 2018 when the average export price increased by 1,293% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+37.4%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Pakistan

In 2021, passenger car imports into Pakistan soared to X units, with an increase of 153% compared with 2020. Overall, imports showed a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 198% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, passenger car imports skyrocketed to $X in 2021. In general, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X units), Japan (X units) and China (X units) were the main suppliers of passenger car imports to Pakistan, together comprising 3.9% of total imports. South Korea, Indonesia and Singapore lagged somewhat behind, together comprising a further 1.3%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +127.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car suppliers to Pakistan were Japan ($X), South Korea ($X) and Thailand ($X), together comprising 72% of total imports.

South Korea, with a CAGR of +117.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average passenger car import price amounted to $X per unit, rising by 4.7% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2016 an increase of 44% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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