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Car Sales Rise Slightly in August Amid Chaotic State of Economy

The ongoing economic issues have pounded the car industry into submission once again in August 2023.

According to the latest data from the Pakistan Automotive Manufacturers Association (PAMA), carmakers (association members only) collectively sold just 7,579 vehicles in August 2023, witnessing a month-over-month (MoM) increase of 49% in sales, but a year-over-year (YoY) decrease of 36%.

Toyota Indus Motor Company (IMC) sold 1,548 cars, reporting a 13% MoM increase in sales. Honda Atlas Cars Limited (HACL) sold only 674 cars, seeing a 36% MoM increase in sales. Pak Suzuki Motor Company (PSMC) sold a respectable 4,268 cars, with a 75% increase in monthly sales.

Hyundai Nishat Motors Private Limited (HNMPL) sold 778 cars last month, recording a 37% MoM increase in sales. Once again, Tucson remained the company’s front-runner.

The sales of some popular cars are as follows:

Passenger Vehicle Sales
Passenger Vehicles Sales in July 2023 Sales in August 2023 Month-on-Month % Difference
PSMC
Cultus 177 305 72%
Alto 1,440 2,769 92%
Wagon R 245 359 47%
Bolan 146 166 14%
Swift 249 506 103%
Toyota IMC
Corolla and Yaris 1,067 1,119 5%
Fortuner and Hilux 301 429 42%
Honda Atlas
Civic and City 208 492 137%
HR-V & BR-V 286 182 -37%
Hyundai Nishat
Tucson 328 465 42%
Elantra 80 92 15%
Sonata 90 101 12%

Experts suggest that the tough times are not over yet, as more production hiccups and price hikes are inbound.



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