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Car Sales Break All Previous Records in June Despite Crippling Inflation

Car demand in Pakistan is showing no signs of slowdown despite record inflation and massive taxes. Despite grim foresight from analysts and experts, car companies have observed record-breaking sales in June 2022.

Although the Pakistan Automotive Manufacturer’s Association (PAMA) is yet to reveal the official figures, reliable sources have reported that all PAMA members collectively sold 28,493 vehicles last month.

It adds that Toyota Indus Motor Company (IMC) sold 6,309 cars, reporting a 7 percent Month On Month (MoM) increase in sales. Honda Atlas Cars Limited (HACL) sold 3,903 cars and recorded a 34 percent MoM increase, while Pak Suzuki Motor Company (PSMC) sold 16,009 cars with a 31 percent increase in sales.

Hyundai Nishat Motors Private Limited (HNMPL) sold 1,871 units, recording a 9 percent MoM increase, while a report from autojournal.pk also highlights that Kia Lucky Motor Corporation (KLMC) sold over 2,100 vehicles, showing a 43 percent MoM increase in sales.

The monthly sales of some popular cars are as follows:

Passenger Vehicle Sales
Passenger Vehicles Units Sold in May 2022 Units Sold in June 2022 Month on Month %age Difference
PSMC
Cultus 1,270 2,468 94%
Alto 5,461 7,487 37%
Wagon R 2,258 2,134 -5%
Bolan 723 1,216 68%
Swift 1,744 1,676 -4%
Toyota IMC
Corolla 2,429 2,626 8%
Yaris 1,834 1,827 -0.3%
Fortuner 728 702 -3%
Hilux 891 1,154 29%
Honda Atlas
Civic 462 657 42%
City 2,219 2,764 24%
BR-V 229 482 110%
Hyundai Nishat
Tucson 639 897 40%
Elantra 594 490 -17%
Sonata 400 201 -49%
Kia Lucky
Picanto 284 341 20%
Stonic 188 98 -47%
Sportage 749 1,299 73%
Sorento 243 361 48%

*Kia Sales By Autojournal.pk

Automakers and analysts predicted a slump in sales due to price hikes, citing rising shipping costs, raw material costs, fuel costs, and local currency depreciation.

Some experts reckon that the sales will remain strong up until Q3 2022. One of the reasons is that certain parties make good business out of buying cars at ongoing prices and selling them at a higher price after the hike is announced.

The second reason is the pre-stacked orders that are awaiting invoice generation and delivery. They say that it would be interesting to see how the situation plays out in Q4 2022 or Q1 2023, as price hikes and increased taxes begin hurting the demand.


  • So a sale is recognized when the invoice is generated – invoices are generated when the car is delivered – cars are delivered several months after ordering – these are old orders being delivered. With the high car pricing, inflation and interest rates, demand is bound to fall.

  • To best of my knowledge toyota has stopped it booking since more than a month and there is no booking from them, so how they sold this much number?? Please transfer the correct situations.


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