There is no sector of the economy that is doing well these days and the same is the case with the automotive industry.
The latest figures from the Pakistan Automotive Manufacturers Association (PAMA) show that carmakers (association members only) managed just 4,463 sales in April 2023. It is a MoM decline of 50% and a YoY decrease of 80%.
Despite being popular in the local market, the likes of Alto, Wagon R, Swift, Corolla, Yaris, Civic, City, and Tucson failed to attract significant buyers last month.
Surprisingly, Fortuner, Hilux, and Sonata emerged as the best sellers from last month. Note that these are all luxury cars only a handful of citizens can afford.
Fortuner starts at Rs. 1.58 crore and goes up to Rs. 2.11 crore. Hilux starts at Rs. 1.14 crore and goes up to Rs. 1.61 crore. Sonata starts at Rs. 1.03 crore and goes up to Rs. 1.13 crore.
941 Fortuner and Hilux units were sold in April 2023 against the 793 sales from a month earlier, recording an increase of 19%. On the other hand, Sonata’s sales in April 2023 registered an increase of 31%.
| Model | March 2023 Sales | April 2023 Sales | MoM % Difference |
| Fortuner and Hilux | 793 | 941 | 19% |
| Sonata | 118 | 155 | 31% |
Overall, Toyota Indus Motor Company (IMC) sold 1,948 cars in April 2023, registering a 2% MoM increase in sales. Honda Atlas Cars Limited (HACL) managed only 207 sales, recording a MoM dip of 75%. Pak Suzuki Motor Company (PSMC) recorded 1,474 sales, noting a decline of 74%.
It is obvious elites are buying cars.
government of Pakistan is also a big customer of Toyota fortuner and vigo