It’s been years, and a subpar economic outlook is hurting Pakistan’s auto industry. The uneven surge in inflation has launched a foray into the consumer’s purchasing power. Rupee depreciation and higher interest rates are among the factors that collectively shattered car sales in Pakistan.
The Pakistan Suzuki Motor Company (PSMC) is among the domestic automotive manufacturers grappling with a significant downturn in sales for months. However, in a recent update, the Pakistan Automotive Manufacturers Association (PAMA) report revealed that Pak Suzuki sales increased by 7% last month.
As per the report, Pak Suzuki sold 3,735 vehicles last month, against 3,506 cars in Nov ’23. Meanwhile, the company observed a 55% drop in year-on-year sales.
Pakistan Suzuki Motor Company sold 2,099 units of Alto, 297 units of Suzuki Cultus, 409 units of Suzuki Wagon R, 378 units of Suzuki Swift, 326 units of Suzuki Bolan, and 226 units of Suzuki Ravi.
Car Sales Dropped By 66%
As per the latest report from the Pakistan Automotive Manufacturers Association (PAMA), there was a 10% month-on-month (MoM) decline in car sales last month, with 5,816 vehicles sold, as opposed to the 6,475 units sold in November 2023.
Comparing year-to-year (YoY) data, a significant 66% drop is observed, as car manufacturers managed to sell only 17,012 cars during the corresponding period last year.
Toyota Pakistan sales jacked up by 28%, selling 684 units last month compared to 956 vehicles in November 2023. (MoM Decline: -28%)
Hyundai Nishat sales observed a considerable downtrend of 43%, selling 304 units last month compared to 532 units in November 2023. (MoM decline: -43%)
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.
Toyota Indus sold 554 units of Corolla and Yaris and 130 units of Fortuner and Hilux. Meanwhile Honda Atlas sold 787 units of City and Civic and 114 units of BR-V.
What do you think about the recent update regarding PSMC sales? Tell us in the comments section.
