Car prices experienced an unprecedented increase in 2023, leading to exceptionally low sales. Additionally, the shutdown of car production by auto giants also contributed to the challenges faced in the automotive industry.
Here we take a look at how the big three: Toyota, Suzuki, and Honda performed during the previous year. Note that this data comes from the Pakistan Automotive Manufacturer’s Association’s data released throughout 2023.
Honda
Honda sold only 9,760 units in 2023 compared to 28,928 in 2022, witnessing a massive 66.26 percent decrease in its sales. The company sold 7,068 units of Honda City and Civic last year, a significant drop from 25,502 in 2022, marking a substantial 72.28% decline in sales.
Similarly, Honda BRV and HRV sales also dropped by 21.42%, falling from 3,426 in 2022 to 2,692 in 2023.
| Model | Jan-Nov’22 | Jan-Nov’23 | Difference |
|---|---|---|---|
| Honda City & Civic | 25,502 | 7,068 | -72.28% |
| Honda BRV & HRV | 3,426 | 2,692 | -21.42% |
| Total | 28,928 | 9,760 | -66.26% |
Suzuki
In total, Pak Suzuki Motor Company’s (PSMC) sales experienced a 69.24% decline, falling from 114,605 units in 2022 to just 35,253 in 2023. Here are the sales figures for each model in the previous year:
| Model | Jan-Nov’22 | Jan-Nov’23 | Difference |
|---|---|---|---|
| Suzuki Alto | 59,526 | 19,071 | -67.96% |
| Suzuki Cultus | 12,739 | 3,424 | -73.12% |
| Suzuki Wagon R | 14,399 | 3,085 | -78.57% |
| Suzuki Swift | 11,401 | 4,054 | -64.44% |
| Suzuki Bolan | 8,092 | 2,864 | -64.61% |
| Suzuki Ravi | 8,448 | 2,755 | -67.39% |
| Total | 114,605 | 35,253 | -69.24% |
Toyota Car Sales
In comparison to Honda and Suzuki, Toyota’s sales were slightly better. However, it doesn’t mean that the company was unaffected by the broader challenges within the automotive industry.
Toyota’s sales declined by 62.81% in 2023 compared to 2022, selling 19,320 units. During the period from January to November 2023, the company sold 11,498 units of Toyota Corolla and Yaris. Additionally, Toyota Fortuner and Hilux sales also dropped by 45.52% to 7,822.
| Model | Jan-Nov’22 | Jan-Nov’23 | Difference |
|---|---|---|---|
| Toyota Corolla & Yaris | 37,588 | 11,498 | -69.41% |
| Toyota Fortuner & Hilux | 14,357 | 7,822 | -45.52% |
| Total | 51,945 | 19,320 | -62.81% |
Margin of profit and taxes are the main reason for this alarming situation.
Program tou warh gyaa…
Did profits drop by same percentage? I don’t think so. These car manufacturers are fleecing the captive buyers.
These are consequences of their own action. They were given subsidies to decrease vehicle prices for nation but they increased their profit and absorbed 70% subsidy to increase profit. Now they must suffer for their actions. M surprised to see their Units r sold. Otherwise nation financial condition is much poor.