The nightmarish decline of the car industry continues due to the economic crisis in Pakistan.
According to the latest data from Pakistan Automotive Manufacturers Association (PAMA), carmakers (association members only) collectively sold just 4,463 vehicles in April 2023, witnessing a month-over-month (MoM) decline of 52%, and a year-over-year (YoY) decrease of 80%.
Toyota Indus Motor Company (IMC) sold 1,948 cars, reporting a 2% MoM increase in sales. Honda Atlas Cars Limited (HACL) sold only 207 cars, seeing a huge 75% MoM decline. Likewise, Pak Suzuki Motor Company (PSMC) sold a respectable 1,474 cars, observing a massive decline of 74% in monthly sales.
Hyundai Nishat Motors Private Limited (HNMPL) sold 725 cars last month, recording a 13% MoM decrease in sales. Once again, Tucson remained the company’s front-runner.
The sales of some popular cars are as follows:
| Passenger Vehicle Sales |
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| Passenger Vehicles | Units Sold in March 2023 | Units Sold in April 2023 | Month-on-Month % Difference |
| PSMC |
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| Cultus | 475 | 177 | -63% |
| Alto | 2,542 | 820 | -68% |
| Wagon R | 489 | 99 | -80% |
| Bolan | 782 | 163 | -79% |
| Swift | 877 | 145 | -83% |
| Toyota IMC |
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| Corolla and Yaris | 1,119 | 1,007 | -10% |
| Fortuner and Hilux | 793 | 941 | 19% |
| Honda Atlas |
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| Civic and City | 611 | 159 | -74% |
| HR-V & BR-V | 224 | 48 | -79% |
| Hyundai Nishat |
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| Tucson | 380 | 315 | -17% |
| Elantra | 188 | 119 | -37% |
| Sonata | 118 | 155 | 31% |
The local currency instability and tax hikes have forced the car industry to increase prices. Recently, various major carmakers including Honda, Suzuki, etc. increased the prices of their vehicles by considerable margins, with other carmakers to follow soon.
With this outlook, the car industry’s fate future seems bleak for the foreseeable future.
Suzuki, Honda and Toyota they deserves it, because of less futures, safety concerns and technologies in-built.
They started / launched practice of ON – money to grab more amounts from the customer and always thinking ways to grab more n more.
Actually their performance are not poor but what kind of cheap products they delivered to the nation against a huge sum of amount Why we bought the car when his actual price should be around three millions approximately rather than six millions.
Secondly leasing rates are all time high around 30 percent.
Thirdly, middle class gradually loose the buying power. And the true elite and the corrupt mafias don’t want to buy the local cars.
کم معیار اور زیادہ قیمتوں کی وجہ سے، سوزوکی دوسروں کے مقابلے میں ایک بری کارکردگی کا مظاہرہ کرنے والی نظر آتی ہے۔
Really Suzuki and Honda na pakistaniu ko khooob looot bhoooot Dala, awam na bhi kabhi quality dakhi nahi isliay pata bhi nahi k itnay paso kitni quality milni chahy. 😏