Car demand seems to be holding strong despite the recent price hikes. As per a recent report from Pakistan Automotive Manufacturer’s Association (PAMA), the auto sector recorded a total of 22,893 car sales in May, recording a Month Over Month (MoM) increase of 2 percent and a Year Over Year (YoY) increase of 46 percent.
Toyota Indus Motor Company (IMC) sold 5,882 units and witnessed an MoM increase of 2 percent and a YoY increase of 47 percent in sales. Hyundai Nishat Motors Private Limited (HNMP) sold 1,710 cars in the same period, observing an MoM increase of 33 percent and a huge YoY increase of 168 percent.
HACL sold 2,910 cars, recording an MoM increase of 11 percent, and a YoY increase of 45 percent, while PSMC sold 12,212 units and observed an MoM decrease of 3 percent and a YoY increase of 47 percent.
The sales figures of some popular vehicles in Pakistan are as follows:
| Passenger Vehicle Sales (PAMA Members Only) |
|||
| Passenger Vehicles | Units Sold in April 2022 | Units Sold in May 2022 | Month on Month %age Difference |
| PSMC |
|||
| Cultus | 1,745 | 1,270 | -27% |
| Alto | 5,009 | 5,461 | 9% |
| Wagon R | 1,823 | 2,258 | 24% |
| Bolan | 860 | 723 | -16% |
| Swift | 2,273 | 1,744 | -23% |
| Toyota IMC |
|||
| Corolla & Yaris | 4,117 | 4,263 | 4% |
| Fortuner & Hilux | 1,658 | 1,619 | -2% |
| Honda Atlas |
|||
| City & Civic | 2,681 | 2,265 | 18% |
| BR-V | 229 | 364 | -37% |
| Hyundai Nishat |
|||
| Tucson | 553 | 639 | 16% |
| Elantra | 240 | 594 | 148% |
| Sonata | 293 | 400 | 37% |
Automakers and analysts have predicted a slump in sales due to incoming price hikes. The automakers have cited rising shipping costs, raw material costs, fuel costs, and local currency depreciation as the reason for price hikes.
However, some analysts believe that the sales will remain strong due to the carmakers being filled to the brim with pre-booked orders. They say that it would be interesting to see how the sales hold up in Q4CY2022 or Q1CY2023, as price hikes will truly begin taking a toll on the demand.
Shah g ap b sada insan hi hain. Log ab investment k liye le rhay hain k own per sale karen gy. Bohat bari game hai ap ko smjh nhi aye gi. Ap bas khabren hi sunao