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|
|Corolla and Yaris||1,067||1,119||5%|
|Fortuner and Hilux||301||429||42%|
|Civic and City||208||492||137%|
|HR-V & BR-V||286||182||-37%|
Experts suggest that the tough times are not over yet, as more production hiccups and price hikes are inbound.