The drop in vehicle sales trend continues due to production cuts from major automakers, record inflation, and massive price hikes.
The latest data from Pakistan Automotive Manufacturers Association (PAMA) suggests that carmakers (association members only) collectively sold 10,953 vehicles in September 2022, witnessing a month-over-month (MoM) decline of 6% and a year-over-year (YoY) decline of 51%.
Toyota Indus Motor Company (IMC) sold 2,617 cars, reporting a 32% MoM decline in sales. Honda Atlas Cars Limited (HACL) sold just 1,280 cars with a 29% MoM decline, while Pak Suzuki Motor Company (PSMC) sold 6,006 cars, observing a respectable 52% MoM recovery in sales.
Hyundai Nishat Motors Private Limited (HNMPL) sold 967 units in September, recording a 50% MoM decline in sales. Once again, Tucson remained the company’s best seller.
The monthly sales of some popular cars are as follows:
| Passenger Vehicle Sales | |||
| Passenger Vehicles | Units Sold in August 2022 | Units Sold in September 2022 | Month-on-Month % Difference |
| PSMC | |||
| Cultus | 411 | 751 | 83% |
| Alto | 2,293 | 2,372 | 3% |
| Wagon R | 365 | 766 | 110% |
| Bolan | 227 | 609 | 168% |
| Swift | 532 | 1,263 | 137% |
| Toyota IMC | |||
| Corolla | 1,595 | 1,000 Approx. | -38% |
| Yaris | 1,306 | 800 Approx. | -40% |
| Fortuner | 339 | Under 250 | -32% |
| Hilux | 636 | 610 Approx. | -5% |
| Honda Atlas | |||
| Civic | 606 | 240 Approx. | -60% |
| City | 830 | 960 Approx. | 15% |
| BR-V | 373 | 79 | -79% |
| Hyundai Nishat | |||
| Tucson | 985 | 375 | -62% |
| Elantra | 581 | 320 | -45% |
| Sonata | 234 | 151 | 35% |
The inflationary pressures and import hurdles are a continuous bother for carmakers. Companies have observed massive production cuts, which may cause sales to fall further in the coming months.
The automakers blame the new mechanism enacted by the State Bank of Pakistan (SBP) for the decline, which requires approval for CKD import clearance. HACL and PSMC issued notifications recently of production halts in October.
Considering these factors, the Pakistani auto sector has tough times ahead of it.
