As 2023 draws to a close, car enthusiasts eagerly anticipate insights into the sales trends of the past 11 months. Typically, we’ve been releasing PAMA car sales reports around the middle of each month. However, this time, we present a year-on-year comparison to unveil how the sales charts have fared this year in comparison to the previous year.
This year, a series of production shutdowns (NPDs) in conjunction with price hikes made a considerable dent to car sales of mainly the dominating BIG 3 (Toyota, Suzuki, Honda).
This is how year 2023 looked for different car companies in term of sales.
Honda Car Sales
Honda City and Civic sales have observed a major downturn of 72% this year, selling 7,068 vehicles compared to 25,502 units last year. The car company also announced several production shutdown in the face of short inventory.
Suzuki Car Sales
PSMC also faced the same fate. Among BIG 3, Pak Suzuki reported a significant loss, even the company delisted from stock exchange. The auto maker saw no benefit in remaining listed because of low valuation and several regulations to comply with, while they were not getting the required price from the market.
Toyota Car Sales
Coming to Toyota IMC’s sales, the staggering decrease of 63% in sales of Corolla and Yaris has shattered the company’s sales trajectory. Same is the situation with Fortuner and IMVs.
Hyundai Car Sales
The Comparison?
Let’s compare the sales of Japanese peers and Korean car giant. We find that Pakistan Suzuki Motors Company (PSMC) suffered more this year, thanks to erosion observed in economic graphs and import restrictions.
Coming to Honda Atlas and Toyota Indus Motors (IMC), the duo also lost more than 50% of their sales in the last 12 months, with an average decline of 66%. Meanwhile, the new entrant, Hyundai Nishat, performed comparatively well, although it fell short of achieving a satisfactory outcome.
It is related to mention that all other car companies, Kia Lucky Motors, Master Changan Motors, Regal Motors, MG Motors, and Al-Haj Proton, are not PAMA members. Their sales numbers are not included in the report.
Amongst all, Honda is not making any efforts to increase their sales. Seems they are happy with current position. Civic @ 10.03 Million vis a vis Cross @ 9.9 Million appr is insane and so is the case with all other variants. Honda is FAILED. Suzuki is surviving due Alto and Swift only. Toyota is surviving due Corolla and somewhat extremely over priced Fortuner. Santa Fe has so far not able to take market at storm but facing low sales. In overall scenario, over pricing is main issue as quality do not commensurate prices. Companies are to be blamed as they totally failed to enhance their capabilities and capacity to manufacture and export vehicles 🚗 as perceived.