2022 has been a year full of sky-highs and rock bottoms for Pakistan. The industry boasted record-high sales in the first half and all-time low sales in the second. The year also witnessed the arrival of some new cars with others getting discontinued.
Due to these developments, the sales figures also remained somewhat conspicuous. ‘The Big Three’ (Toyota, Honda, and Suzuki) remained atop the totem pole as the biggest automakers by sales volume with the following figures:
- Pak Suzuki Motor Company (PSMC) — 125,960 units
- Toyota Indus Motor Company (IMC) — 54,768 units
- Honda Atlas Cars Limited (HACL) — 31,007 units
As for other automakers, 2022 has been less kind. According to a recent report, Kia Lucky Motor Corporation (KLMC) sold just over 15,500 units last year, observing a 31% year-over-year (YoY) decline in sales.
Master Changan Motors Limited (MCML) remained better off, having sold 15,100 units in 2022 and observing a YOY sales decline of just 1%.
Hyundai Nishat Motors Private Limited (HNMPL), however, observed decent growth, having sold 12,686 units in 2022, observing a 42% YOY increase in sales. Still, it remained below KLMC and MCML in annual sales.
Analysts believe that 2023 will remain a slow year for the car industry as the government attempts to replenish foreign exchange reserves and focus on imports of essential commodities.