Pakistan’s protracted economic crisis and import restrictions have been ongoing for more than a year. Due to these issues, the automobile industry has experienced a significant decline in sales.
According to the latest data from the Pakistan Automotive Manufacturers Association (PAMA), carmakers (association members only) sold just 6,034 vehicles in June 2023, representing a 10% increase month-over-month but a 79% decrease year-over-year.
Honda Atlas’s sales increased considerably due to production resumption. Toyota Indus Motor Company (IMC) and Pak Suzuki Motor Company (PSMC) also experienced a modest increase.
In terms of the top five, the monthly car sales are as follows:
Hyundai Tucson remains a consistently strong-selling crossover in Pakistan despite the ongoing economic turmoil. In June 2023, Hyundai Nishat sold 313 units of Tucson, 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.
Toyota Yaris also witnessed a comeback last month, observing a monthly growth of over 74% increase in sales, despite a relatively steep price tag. Toyota sold 381 units of Yaris in June, making it the 4th best-selling car in Pakistan for the month.
The mondo-extravagant pickup truck has become somewhat of a celebrity, 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 June 2023, the second time in a row.
Toyota sold 573 units of Hilux in June, earning it a spot in the list of top five best-selling cars once again.
Toyota Corolla remains Pakistan’s best-selling sedan to this day, despite a massive increase in prices. Toyota sold 604 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.
In June, Suzuki Alto once again stands head and shoulder above all cars in terms of stand-alone sales figures for a single month. With 1,913 units sold in June, Alto became the month’s best-selling 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.
