The car industry’s nightmare decline continues as a result of Pakistan’s economic crisis.
Recent Car Sales
According to the most recent data from the Pakistan Automotive Manufacturers Association (PAMA), carmakers (association members only) sold just 4,463 vehicles in April 2023, a 52% decrease month over month (MoM) and an 80% decrease year over year (YoY).
Toyota Indus Motor Company (IMC) sold 1,948 vehicles, representing a 2% increase in sales year on year. Honda Atlas Cars Limited (HACL) sold only 207 vehicles, a 75% decrease from the previous year. Similarly, Pak Suzuki Motor Company (PSMC) sold 1,474 vehicles despite a 74% decrease in monthly sales.
Hyundai Nishat Motors Private Limited (HNMPL) sold 725 vehicles last month, a 13% decrease from the previous month. Tucson was once again the company’s front-runner.
The following are the sales figures for some popular automobiles:
| Passenger Vehicle Sales | |||
| Passenger Vehicles | Units Sold in March 2023 | Units Sold in April 2023 | Month-on-Month % Difference |
| PSMC | |||
| Cultus | 475 | 177 | -63% |
| Alto | 2,542 | 820 | -68% |
| Wagon R | 489 | 99 | -80% |
| Bolan | 782 | 163 | -79% |
| Swift | 877 | 145 | -83% |
| Toyota IMC | |||
| Corolla and Yaris | 1,119 | 1,007 | -10% |
| Fortuner and Hilux | 793 | 941 | 19% |
| Honda Atlas | |||
| Civic and City | 611 | 159 | -74% |
| HR-V & BR-V | 224 | 48 | -79% |
| Hyundai Nishat | |||
| Tucson | 380 | 315 | -17% |
The car industry has had to raise prices due to currency instability and tax increases. Several major automakers, including Honda, Suzuki, and others.
Increased vehicle prices by significant margins, with other automakers expected to follow suit soon. With this outlook, the future of the automobile industry appears bleak for the foreseeable future.
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