It has been over a year since the ongoing economic crisis and import restrictions started in Pakistan. Due to these issues, the car industry has seen sales drop to abysmal levels.
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%.
Pak Suzuki Motor Company (PSMC) saw a rebound in sales that allowed for better monthly figures. Toyota Indus Motor Company (IMC) also saw a slight increase in decline while Honda Atlas and Hyundai Nishat saw a major decline.
The monthly car sales are as follows:
#5: Suzuki Cultus
Cultus remains among the favorite hatchbacks for Pakistani buyers. In May 2023, Pak Suzuki sold 282 units of Cultus, making it the 5th best-selling car of the month. While not a huge figure, it is still much better than the vast majority of several popular cars.
#4: Suzuki Swift
Suzuki Swift also witnessed a comeback last month, observing a monthly growth of over 124% increase in sales, despite a huge price tag. Suzuki sold 332 units of Swift in May, making it the 4th best-selling car in Pakistan for the month.
#3: Toyota Hilux
The uber-expensive pickup truck has become somewhat of a superstar, as depicted by its recent monthly sales. Toyota Hilux, despite a starting price of well over Rs. 10 million (Rs. 1 crore), has become Pakistan’s third best-selling vehicle for May 2023.
Toyota sold 605 units of Hilux, earning it a spot in the list of top five best-selling cars once again.
#2: Toyota Corolla
Toyota Corolla remains one of Pakistan’s best-selling sedans to this day, despite a massive increase in prices. Toyota sold 634 units of Corolla last month, becoming the 2nd best-selling car in Pakistan, despite being almost a decade-old car that starts at over Rs. 6 million.
#1: Suzuki Alto
May, once again, saw the return of Pakistan’s most popular car to form. Suzuki sold 1,902 units of Alto, which is the month’s best sales figure for one car by a landslide.
While it’s only a fraction of the sales figures from the previous year, the slight rise shows the potential for a significant increase in sales once the government opens Letters of Credit (LCs) for car imports.
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