Car Sales in Pakistan Reach an All Time High
2 weeks ago
The stability in the economy, improvement in the security situation throughout the country and low interest and financing rates pushed up the sales of local automobile companies to record levels in the financial year of 2016-17, and reached 185,781 units.
These sales broke the record of the previous years’ numbers of 181, 145 units and also broke the six years old record of 164,650 units set in 2008-07.
The outgoing financial year is the most impressive in the history of automobile industry in Pakistan having witnessed an incredible demand for local cars by the public outpacing the production capacity of different companies.
According to the statistics of Pakistan Automotive Manufacturers Association (PAMA), the sales of locally-assembled cars are more than 4,636 units than sales of previous financial year, which showed a good pace in growth especially without any Taxi scheme of the provincial government.
These sales numbers could have been much higher if the demands of the consumers were met. Main automobile players—Indus Motor Company, Pak Suzuki and Honda Cars have hired extra staff members to run their production even in off days but they have failed to meet the demand of local market in the outgoing financial year.
The impressive sales are excluding those of imported cars in Pakistan which have also seen high demand, particularly in the small cars segments.
1300 CC and Above Cars
The segment of high-end locally produced cars drove the overall sales of passenger cars as Toyota Corolla remained the first choice of Pakistan. Its sales dropped this year due to delays in the delivery of cars and the anticipation of new model in 2018.
Out of total cars sales of 185, 781, the sales of 1300CC and Above cars stood at 93, 925 units. This shows that high-end cars have more than 50 percent share in total cars sales.
1000 CC Cars
Among mid-sized brands of passenger cars, locally assembled WagonR remained the preferred choice. The sales of WagonR are 46 percent higher in the financial year 2016-17 compared with the previous one.
It is followed by rebranded Suzuki Cultus, which was popular among public.
Below 1000 CC
The Suzuki Mehran brand is the second bestselling in Pakistan and is the only locally-manufactured car in the small cars segment in Pakistan.
The negative growth in the sales of Suzuki Bolan was seen in this financial year as this brand was part of the Punjab Apna Rozgar Scheme, which was concluded in the financial year 2015-16.
Automobile sales including Van, Jeep and Light Commercial Vehicles have seen a little drop in the local market which translated into overall industry sales to 213,118 units showing a 6 percent negative growth in numbers from previous year.