Where soaring inflation and import restrictions inflicted by the State Bank of Pakistan have urged the car makers to announce production cuts, back-to-back price hikes have again cut down car sales in September. And prevailing economic uncertainty is responsible for the growing fuss.
As per Pakistan Automotive Manufacturers Association (PAMA) report, car sales declined by 6% last month whilst 50% year-on-year. Interestingly, the declining trend is neither surprising nor new – sales charts revealed a drop of 58% in July and 2% in August.
Outlook
Following the sept-22 sales, the same is expected in the coming months, given the economic downturn laced with higher interest rates in the country.
Company-Wise Sales Breakdown
Toyota Indus recorded the lowest sales. The company sold 2,617 units in September against 3,876 units in August – a month-on-month decline of 32%. A sharp decrease in sales of its prominent cars, Corolla/Yaris and Fortuner/Hilux, led to this declining trend.
Whereas Honda Atlas car sales went down to 1,280 units compared to 1,809 units in August. (MoM decline: 29%)
Hyundai Nishat faces the same fate. The company witnessed a massive downturn, selling 967 units in Sept-22 compared to 1,929 units in August 2022. (MoM decline: 50%)
Surprisingly, Pak Suzuki Motors Company (PSMC) exhibited thumping figures. Company sold 6,009 units against 3,954 units in August. (MoM growth: 58%)
It is pertinent 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 2,327 units of Alto, 751 units of Suzuki Cultus, 766 units of Suzuki Wagon R, 1,263 units of Suzuki Swift, 609 units of Suzuki Bolan, and 245 units of Suzuki Ravi.
Toyota Indus sold 1,780 units of Corolla and Yaris and 837 units of Fortuner and Hilux.
Honda Atlas sold 1,201 units of Civic and City and 79 units of BR-V.
Hyundai Nishat sold 320 units of Elantra, 151 units of Sonata, 121 units of Porter, and 375 units of Tucson.
Here is the MoM comparison of all the above sales
