The nightmarish outlook of Pakistan’s economy has pummeled the auto industry into submission. Overall, car sales have fallen 47% to just 5,762 cars in February. These are the worst sales figures since April-August 2020 — the peak of the COVID-19 outbreak in Pakistan.
The record-low numbers have also revealed an interesting new trend. Since the start of 2023, expensive cars have been thriving in terms of sales, while economy cars have been struggling.
While the production pauses are a factor, the demand among low-end car buyers has also fallen significantly due to weakened purchasing power.
As a result, February’s best-selling cars are as follows:
#5 Toyota Hilux
Toyota Hilux (Revo in specific) has never been as successful in Pakistan as it is these days. While economy cars are barely making it onto the road, this truck is selling like hotcakes despite astronomical inflation.
According to details, Toyota sold 390 units of Hilux last month. A possible reason for this could be fleet sales. Regardless, such strong sales are curious for a truck that costs well over Rs. 1 crore.
#4 Suzuki Alto
Suzuki has seen a significant decline recently, primarily due to poor Alto sales. The company only managed to sell 544 units of Alto last month. While that is a major increase compared to just 44 units sold last month, it is still a far cry from its previous numbers.
Comparatively, Suzuki sold 3,864 units of Alto in December 2022. PSMC observed multiple non-production days (NPDs) in the past few months, which dampened Alto’s sales massively.
#3 Hyundai Tucson
Hyundai has been on a roll for the last few months, with Tucson being its front-runner. In February, Hyundai Nishat sold 708 units of Tucson, making it the best-selling crossover SUV of the month.
Its mechanical twin and former best-selling SUV in Pakistan, Kia Sportage, has been experiencing a major decline in sales, despite having a smaller price tag as well. The success is likely because of Hyundai’s ability to streamline operations despite a massive economic downturn.
#2 Toyota Corolla
Toyota remains one of Pakistan’s best-selling cars to this day, despite a massive increase in prices. According to the latest data, Toyota sold 864 units of Corolla last month, becoming the third best-selling car in Pakistan, despite being an almost decade-old sedan with a starting price of Rs. 6.2 million.
#1 Honda City
Honda continues to bask in the success of the 6th generation City which has become Pakistan’s favorite new subcompact sedan. In February 2023, Honda Atlas sold an impressive 937 units of City, making it the best-selling sedan for the company and for Pakistan.