Following the government’s easing of import restrictions, there was a marginal increase in car sales last month. However, amidst the declining economy, the challenge persists, and the culprit is the melting economic graphs.
According to the report from the Pakistan Automotive Manufacturers Association (PAMA), car sales experienced a 10% increase in September 2023, with 8,312 vehicles sold compared to 7,579 units in August. However, in a year-to-year (YoY) comparison, there was a notable decline of 26%, as car makers sold 11,288 cars during the same period last year.
Two Wheelers
Similarly, two-wheeler sales experienced a significant uptick of 22% last month, reaching 105,479 units as opposed to 86,504 bikes in August 2023. Notably, Japanese motorcycle manufacturer Honda recorded sales of 95,056 bikes in the same period, marking an increase from 75,071 units in August. Conversely, Pak Suzuki saw a decline of 36% in sales, with 1,096 units sold last month compared to 1,722 in August.
Trucks & Buses
Truck sales experienced a notable surge of 15% month-on-month (MoM), whereas bus sales saw a decrease of 6%. Shifting focus to Jeeps and pickups, the sales of pickups witnessed a substantial increase of 53%, while Jeep sales showed a more modest jump of 5%.
Company-Wise Sales Breakdown
Toyota Pakistan sales jacked up by 3%, selling 1,595 units in Sept’23 compared to 1,548 vehicles in August. (MoM growth: 3%)
Highlighting Honda Atlas’ sales, the carmaker soared by 99%, selling 1,342 units last month compared to 674 units in Aug’23. (MoM growth: 99%)
Comparing to its Japanese peers, Pak Suzuki Motors Company’s sales decreased by 1%, selling 4,234 vehicles against 4,268 cars in July. (MoM Decline: 1%)
Hyundai Nishat sales increased by 5%, selling 820 units last month compared to 778 units in Aug. (MoM growth: 5%)
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.
Car-Wise Sales Breakdown
Pakistan Suzuki Motor Company sold 2,551 units of Alto, 332 units of Suzuki Cultus, 359 units of Suzuki Wagon R, 506 units of Suzuki Swift, 229 units of Suzuki Bolan, and 257 units of Suzuki Ravi.
Toyota Indus sold 1,050 units of Corolla and Yaris and 545 units of Fortuner and Hilux.
Honda Atlas sold 1,160 units of City and Civic and 182 units of BR-V and HR-V.
Hyundai Nishat sold 97 units of Elantra, 126 units of Sonata, 177 units of Porter, and 420 units of Tucson.
Here is the MoM comparison of all the above sales:
Civic and City combined figures growing at a higher rate than Corolla and Yaris is indeed a matter of concern for I.M.C.