By Jawad Ahmed ISLAMABAD, Mar 01 (INP-WealthPK): Despite looming economic challenges, Pakistan’s automotive sector is thriving with a strong increase in automotive production and sales. During the first seven months of the current fiscal year (2021-22), sales of trucks, cars, and farm tractors in the country increased by 80%, 61.5%, and 16.03%, respectively, as compared to the same period last year. According to Pakistan Automobile Manufacturing Association (PAMA), between July and January (2021-22), truck sales climbed by 80% from 1,940 units during the same period of last year to 3,492 units, while truck production increased from 1,738 units to 3,414 units, showing a growth of 96.43%. Car manufacturing companies registered with PAMA sold 131,759 units as compared to 81,569 units during the same period of last year, showing a 61.53% increase in sales, WealthPK reported. Meanwhile, over the first seven months of the current fiscal year, car manufacturing climbed by 65.56%, from 75,867 units during the corresponding period of last year to 125,607 units. The sale of farm tractors also witnessed an increase of 16.03% from 27,100 units to 31,445 units. Meanwhile, the production of farm tractors also increased by 20.54% from 27,033 units during the corresponding months of last year to 32,585 units this year. However, sales of motorcycles and three-wheelers in the country fell 1.94% in the first seven months of the current fiscal year compared to the same period of the previous year. Motorcycle and three-wheeler manufacturers sold 1091,795 units from July to January 2021-22, compared to 1,113,435 units during the corresponding months of 2020-21. Things in the automotive sector began to normalise after the advent of the Covid-19 vaccine and subsequent reduction in the threat level of the pandemic. The robust recovery in automotive manufacturing and sales is a significant indicator of the country's business and economic recovery. In January 2022, truck and bus sales were up 114% month-on-month and 132% year-on-year, indicating a revival of transportation activity in the country. Auto financing loans and single-digit interest rates have also played a significant part in increasing automotive demand. According to State Bank of Pakistan (SBP) data, auto loans climbed 38% to Rs353.64 billion in December 2021 compared to December 2020.