The auto sector boasted tremendous sales figures in December 2021. However, the recent price hikes following the increased taxes and the restrictions on car financing have started impacting vehicle sales.
Companies including Hyundai Nishat, Pak Suzuki Motor Company (PSMC), and Honda Atlas Cars Limited (HACL) reported considerably low sales compared to the previous month, which affected the overall figures greatly as shown in the data released by Pakistan Automotive Manufacturers Association.
With that shift, the following vehicles emerged as the five top-selling cars for January 2022:
5. Suzuki Wagon R
An Uber driver’s favorite vehicle, the Wagon R always manages to break into the top-five sellers in Pakistan. PSMC sold an impressive 1,537 units of the Wagon R. These figures have landed the Wagon R among the best-selling vehicles in Pakistan once again, making it a consistent top performer.
5. Toyota Yaris
The Yaris has been witnessing relatively low sales in Pakistan lately. The vehicle has sold less than the Corolla and Corolla and the City for the past two months. Toyota Indus Motor Company (IMC) sold 2,093 units of the Yaris last month, making it the fourth best-selling car of the month.
3. Honda City
The ‘new-model’ Honda City has garnered considerable popularity across Pakistan, despite a delivery time of up to six months. According to our sources, HACL sold 2,928 units of the City in January 2022, making it the second best-selling sedan in Pakistan.
The City’s success is mostly due to it being a significant upgrade over its predecessor — the fifth generation City. Although still a generation old, its popularity means that it will probably stay on sale in Pakistan for another decade. Let us hope that HACL proves us wrong.
2. Toyota Corolla
Despite only being targeted towards Pakistan’s upper socio-economic class, the Toyota Corolla has reclaimed the ‘best-selling sedan’ title in Pakistan. Toyota IMC sold 3,435 units of the Corolla last month, recording a YoY increase of 1.8 percent, and a sizeable MoM increase of 80.6 percent in sales, making it the second best-selling car of the month.
Number 1: Suzuki Alto
Suzuki Alto has proven itself to be a true successor of the legendary Mehran. Despite recording significantly fewer sales compared to December 2021, the Alto was still the best-selling passenger car in Pakistan. PSMC sold 3,864 units of the Alto, making it the number one best-selling car in Pakistan for the 3rd consecutive month since the beginning of the new year.
Verdict:
December 2021 revealed tremendous car sales figures due to a pre-buying spree in fear of price hikes. Experts believe that, with the new prices, increased taxes, and auto-financing restrictions in place, car sales are expected to take a hit in the coming days.
Regardless, the car industry is still growing with the arrival of new vehicles and automakers. The increase in competition has stabilized the overall demand, and hence, the car market is prospering.
