A significant decline has been recorded in sales of new cars across the country, reported 24NewsHD TV channel on Friday. 

According to a report, a 38 percent drop in vehicle sales was recorded in the nine months of current fiscal year.

The report further revealed that in the financial year 2024, as many as 69,078 vehicles were sold only.

On the other hand about 110,898 vehicles were sold in nine months of 2023.

About 58 percent decrease in sales of Swift model of Suzuki Motors was recorded while the sales of Fortuner and Hilux models of Toyota Company recorded a decline of 69 percent, the report revealed.

Moreover, the sales of Honda Civic and City models recorded a decline of 31 percent, report said.

President All Pakistan Motors Dealers Association HM Shehzad said the prices of cars are high due to which the sale has decreased.

Until the vehicles are produced at the local level, the prices of the vehicles will not decrease, said HM Shehzad.

It is also not possible to get a car at 25 percent on bank leasing, he concluded.

Reporter: Ayaz Rana