Despite a month-on-month growth in October, car sales decreased 47% from 74,952 to 39,700 between July-October 2022 due to inflation, auto finance restrictions, and high-interest rates.
Interestingly, car sales jumped from 9,213 in September to 11,129 in October, which is still well below October 2021’s 17,413.
The increase in sales and production in October shows that things are getting a little bit better. This is because assemblers have been able to deliver cars since the State Bank of Pakistan (SBP) raised import quotas. This made it possible for car companies to get their auto parts out of the port.
In the meantime, sales of the Honda Civic and City went down from 10,444 in July-October 2021 to 4,416 in July-October 2022. Sales of the Toyota Corolla and Yaris also fell massively from 19,214 to 8,253.
In addition, Suzuki Cultus and WagonR sales dropped from 11,454 and 6,779 in the same period last year to 2,952 and 2,181 this year. Suzuki Bolan and Alto sales were 1,469 and 13,464 compared to 4,012 and 20,773 in July-October 2022, whereas jeep and pickup sales plummeted by 45% from 14,969 in July-October 2021 to 8,234 units in the same period in 2022.
Moreover, tractor sales also recorded a dip of 47% from 17,386 units to 9,258 units, indicating a slump in agriculture. Trucks and buses sold 1,109 and 210 units this year, compared to 2,011 and 184 during the same period last year.
In the first four months of the current fiscal year, two and three-wheeler sales fell to 412,111 units from 629,212 over the previous year.
Sallu bhai ye sb imported hakoomat ka kiya hua hai.
Imported hakoomat na manzoor
Sallu bhai ye sb shahbaz sb ki waja se hai. Saray baray cities main public transport ka behtreen nizam hai. Is liye log gari nhi le rhay. Ap tension na lo aik din motorway per b metro chalay gi.
Shahbaz teri parwaz
at least “own” money culture may vanish and the consumers may buy their cars from showrooms at spot instead of waiting for months