According to data from the Pakistan Automotive Manufacturers Association (PAMA) reported by Hindustan Times Auto, a mere 4,875 cars found new homes in November 2023. Compare that to the same month last year when a robust 15,432 cars were driven off the lots.
What’s causing this roadblock? Well, buckle up! The decline in car sales is like navigating a challenging terrain, with steep prices being a major obstacle.
The economic crisis in Pakistan, coupled with soaring car prices, has slammed the brakes on the purchasing power of the average citizen.
The automotive industry is grappling with a perfect storm of issues – from shrinking demand to skyrocketing sticker prices due to currency depreciation, hefty taxes, and pricey auto financing.
It’s a wild ride for Pakistan’s car market!”
Back in October, not more than 6200 units were sold. And in November, the sales have tanked below 5,000 units.
In October, the roar of engines echoed a bit softer in Pakistan, with around 1.01 lakh two and three-wheelers finding new owners. This marks a decline from the robust 1.14 lakh units sold in the same month last year.
Zooming in further, van, jeep, and LCV sales clocked in at 1,330 during the same period, as per PAMA data. The automotive landscape is shifting gears, and the numbers tell a tale of change in Pakistan’s vehicle market.”
Car Sales Breakdown
Pak Suzuki Takes a Nosedive with a 72% YoY Decline, Indus Motor Company Limited and Honda Atlas Not Far Behind!
The wheels of fortune are turning south for Pakistan’s automotive giants. Pak Suzuki witnessed a staggering 72% decline in year-on-year sales, closely trailed by Indus Motor Company Limited with a 71% slump, while Honda Atlas Car sales dropped by 49% YoY.
The impact of this downturn echoes across the manufacturing plants, as last month saw a halt in production by major players like Toyota, Suzuki, and Honda. It’s a ripple effect hitting the very core of Pakistan’s auto industry.
From July to October 2023, a meagre 20,871 cars found buyers in Pakistan, marking a stark contrast to the previous years.
Even the sales of motorcycles and three-wheelers experienced a dip, painting a gloomy picture for the entire automotive sector in the country.
Indian Car Market Revving Up
In a contrasting automotive narrative, Maruti Suzuki India revs up with a 3.39% rise in total sales, hitting an impressive 1,64,439 units in November 2023. Meanwhile, Toyota Kirloskar Motor races ahead with a remarkable 51% growth in sales, reaching 17,818 units last month.
Breaking it down, Maruti Suzuki’s domestic sales clocked in at 16,924 units, showcasing a robust performance in the domestic market. Additionally, the export front added 894 units to the tally, further contributing to the success story.
As the wheels turn, India’s auto industry witnesses a tale of resilience and growth, painting a stark contrast to the challenges faced by its counterpart in Pakistan.
Hi there! My name is Kashif Hussain, the lead author of PakDrive. I am a huge car enthusiast and avid traveller. I have a deep passion for exploring the world and experiencing new cultures, and I love nothing more than hitting the open road and discovering new adventures behind the wheel of my favourite car. Whether I’m cruising down a winding mountain road or speeding down the highway, there’s nothing quite like the feeling of the wind and the purr of the engine beneath me. I hope to share my love of cars and travel with all of you through my writing, and I can’t wait to see where the road takes us next.”