The dreary outlook of the car industry continues as Pakistan enters hyperinflation following the turn of the new fiscal year.
According to the latest data from Pakistan Automotive Manufacturers Association (PAMA), carmakers (association members only) collectively sold just 5,290 cars in May 2023, witnessing a month-on-month (MoM) increase of 19%, and a year-on-year (YoY) decrease of 77%.
Toyota Indus Motor Company (IMC) sold 1,718 cars, reporting a 12% MoM increase in sales. Honda Atlas Cars Limited (HACL) saw record-low sales of only 87 cars, seeing a huge 58% MoM decline. Pak Suzuki Motor Company (PSMC) sold a respectable 2,958 cars, observing an increase of 101% in monthly sales.
Hyundai Nishat Motors Private Limited (HNMPL) sold 503 cars last month, recording a 31% MoM decrease in sales. Once again, Tucson remained the company’s front-runner, despite a major decline in individual sales.
The sales of some popular cars are as follows:
| Passenger Vehicle Sales |
|||
| Passenger Vehicles | Units Sold in April 2023 | Units Sold in May 2023 | Month-on-Month % Difference |
| PSMC |
|||
| Cultus | 177 | 282 | 59% |
| Alto | 820 | 1,902 | 132% |
| Wagon R | 99 | 148 | 49% |
| Bolan | 163 | 157 | -4% |
| Swift | 145 | 332 | 129% |
| Toyota IMC |
|||
| Corolla and Yaris | 1,007 | 853 | -15% |
| Fortuner and Hilux | 941 | 865 | -8% |
| Honda Atlas |
|||
| Civic and City | 159 | 56 | -65% |
| HR-V & BR-V | 48 | 31 | -35% |
| Hyundai Nishat |
|||
| Tucson | 315 | 194 | -38% |
| Elantra | 119 | 69 | -42% |
| Sonata | 155 | 135 | -13% |
Local currency instability and raw material costs have compelled the automobile industry to raise prices. To top it off, the automakers are barely able to continue operations due to CKD kit import restrictions.
For now, the government has refrained from increasing taxes on new cars and CKD imports. This implies that tax-related price hikes are unlikely in the future. Although, the lack of new incentives means that the situation will not get any better either.
In light of this prognosis, the automobile industry’s future seems dismal.
Has been
Toyota ki sales report k start me likha hua 12% increase hue MoM basis lakin neeche table me dekhen tuo Toyota ki sales decrease hui.. ye news fake hai