Due mostly to the availability of CKD parts, which allowed for higher production in November 2022 as compared to October 2022, Pakistani auto sales (including sales of non-PAMA members), inched up to 20,000 units in November, up 35% month-over-month (MoM).
Topline Securities reports that despite rising auto prices, high auto financing costs, and weak consumer purchasing power, auto sales were down 2% YoY in November 2022, bringing 5MFY23 car sales to 66,458 units, down 39% YoY from 108,635 units in the first five months of the fiscal year 2021–22.
Following Honda Car’s (HCAR) gain of 38% MoM to 1,973 units in November 2022, Pak Suzuki (PSMC) announced a growth of 55% MoM to 12,400 units. The aforementioned factor is mostly to blame for the increase in sales.
From 3,374 units in October 2022 to 3,242 units in November 2022, Indus Motors (INDU) reported a 4% MoM drop. Sales of the Hyundai Elantra and Sonata fell by 25% and 45%, respectively, while overall sales fell by 9% MoM.
Al-Ghazi Tractors (AGTL), which makes tractors, saw a fall of 65% MoM to 137 units, followed by Millat Tractors (MTL), whose sales fell by 27% MoM to 1,103 units in November 2022.
Due to floods, diminished consumer purchasing power, and higher prices, the total number of tractors sold in the first five months of the fiscal year 2022–23 was 10,498 units, a 52% Year–over–Year (YoY) decrease.
November saw a 34% YoY and a 3% MoM decline in bike sales. 92,000 units were sold, which is a decrease of 3% MoM and 28% YoY, for Atlas Honda (ATLH).
In November 2022, sales of trucks and buses increased 5% MoM but decreased 36% YoY to 342 units. With 1,661 units sold in the first five months of fiscal year 2022–23, sales are down 39% year over year, mostly as a result of a decline in transportation activities and a slowdown in the broader economy.
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