After several years, Pakistan’s auto industry is suffering from a weak economic forecast. The inconsistent rise in inflation has impacted consumer purchasing power. The devaluation of the rupee and higher interest rates have contributed to a decline in car sales in Pakistan.
The Pakistan Suzuki Motor Company (PSMC) is one of the local automotive manufacturers struggling with a significant decrease in sales for months. However, a recent report from the Pakistan Automotive Manufacturers Association (PAMA) revealed that Pak Suzuki sales increased by 7% last month.
According to the report, Pak Suzuki sold 3,735 vehicles last month, compared to 3,506 cars in Nov ’23. However, the company saw a 55% decrease 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 Decreased By 66%
The latest report from the Pakistan Automotive Manufacturers Association (PAMA) shows a 10% month-on-month (MoM) decline in car sales last month, with 5,816 vehicles sold compared to the 6,475 units sold in November 2023.
When comparing year-to-year (YoY) data, there is a significant 66% drop, as car manufacturers only managed to sell 17,012 cars during the same period last year.
Toyota Pakistan sales increased by 28%, selling 684 units last month compared to 956 vehicles in November 2023. (MoM Decrease: -28%)
Hyundai Nishat experienced a significant decline of 43%, selling 304 units last month compared to 532 units in November 2023. (MoM decline: -43%)
It’s worth noting that car companies such as Kia Lucky Motors, Master Changan Motors, Regal Motors, MG Motors, and Al-Haj Proton are not PAMA members, so their sales numbers are not included in the report.
Toyota Indus sold 554 units of Corolla and Yaris, as well as 130 units of Fortuner and Hilux. Meanwhile, Honda Atlas sold 787 units of City and Civic, as well as 114 units of BR-V.
What are your thoughts on the recent update about PSMC sales? Let us know in the comments section.
