The past few months have been crucial for the local automobile industry, given the prevailing economic downturn laced with import restrictions imposed by the State Bank of Pakistan. Import embargo urged the automakers to announce back-to-back production cuts and booking suspensions, which in turn led to low sales and a slump in profit charts.
Pakistan Suzuki Motor Company (PSMC) was among the car companies facing the same fate. However, in a bid to bring things on track, the company has resumed the bookings for all cars. Earlier, Pak Suzuki announced the same, but for corporate customers restrained to the confined numbers of units and models.
Therefore, as per a recent notification, the bookings have been resumed for all customers. Each model will be sold under the terms of a specific quota, and the delivery time for all models will be 2 months. The decision can help the company to witness a new high in sales in the coming months.
Car Sales Inched Up By 21% In Oct
When automobile industry in Pakistan is shrinking in the face of prevailing uneven economic fuss and import curbs inflicted by State Bank of Pakistan, Pakistan Automotive Manufacturers Association (PAMA) report comes with something different – car sales are up by 21% last month.
However, burgeoning car prices, low sales and a slump in car financing has reported 36% down in year-on-year sales clocked at 13,369 units compared to 21,024 units in the corresponding time of last year.
Toyota Indus sales recorded a slight jump in its sales. The company sold 3,374 units in October against 2,617 units in September – a month-on-month increase of 29%.
Coming to Honda Atlas car sales – the company’s sales follow the trend – went up to 1,425 units compared to 1,280 units in September. (MoM growth: 11%)
Similarly, Pak Suzuki Motors Company (PSMC) exhibited thumping figures. Company sold 8,003 units against 6,006 units in September. (MoM growth: 33%)
Hyundai Nishat faces the different fate. The company witnessed a massive downturn, selling 486 units in Oct-22 compared to 967 units in September 2022. (MoM decline: 50%)
