Car sales have experienced yet another significant decline as a result of the current economic turmoil.
The Pakistan Automotive Manufacturers Association (PAMA) has just released data showing that, in July 2023, automakers (association members only) sold a total of 5,092 automobiles, a year over year (YoY) decline of 57% but a month over month (MoM) decrease of 16%.
1,368 vehicles were sold by Toyota Indus Motor Company (IMC), a 26% MoM decline in sales. Only 494 cars were sold by Honda Atlas Cars Limited (HACL), a 61% MoM increase in sales.
2,444 cars were sold by Pak Suzuki Motor Company (PSMC), a 19% decline from the previous month.
Last month, Hyundai Nishat Motors Private Limited (HNMPL) sold 569 automobiles, up 2% month over month. Tucson continued to be the company’s top choice.
Well-Known Car Sales Chart
These well-known cars’ sales are as follows:
| Passenger Vehicle Sales |
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| Passenger Vehicles | Sales in June 2023 | Sales in July 2023 | Month-on-Month % Difference |
| PSMC |
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| Cultus | 264 | 177 | -33% |
| Alto | 1,913 | 1,440 | -26% |
| Wagon R | 165 | 245 | 48% |
| Bolan | 262 | 146 | -44% |
| Swift | 278 | 249 | -10% |
| Toyota IMC |
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| Corolla and Yaris | 984 | 1,067 | 8% |
| Fortuner and Hilux | 862 | 301 | -65% |
| Honda Atlas |
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| Civic and City | 227 | 208 | -8% |
| HR-V & BR-V | 80 | 286 | 258% |
| Hyundai Nishat |
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| Tucson | 313 | 328 | 5% |
| Elantra | 88 | 80 | -9% |
| Sonata | 77 | 90 | 17% |
The local auto industry’s general trajectory is still dismal, notwithstanding a minor increase in sales. Due to inventory shortages, automakers are still experiencing production halts, and the demand has been tempered by price increases and tax increases.
According to experts, the hard times are not yet over because additional production problems and price increases are on the way.
To read our blog on “Honda to launch Hybrid cars in Pakistan probably in 2024,” click here.