Due to import restrictions, the Pakistani automobile industry has had a difficult few months. Because the letters of credit (LC) were not approved, multiple automakers, including Pak Suzuki Motor Company (PSMC), were forced to cut production to cope with rising inflation.
However, PSMC appears to be attempting to pick up the pace by resuming bookings for all cars. The previous resumption was limited to a small number of models and units and was only available to corporate customers.
The current resumption is for all customers, though each model will be sold in accordance with a set quota.
According to a Suzuki dealership, the current delivery time for all models is two months. PSMC stands a good chance of increasing its sales in the coming months as a result of this development.
Since July, car sales have increased
Despite a month-on-month increase in October, car sales fell 47% between July and October 2022, from 74,952 to 39,700 units, due to inflation, auto finance restrictions, and high interest rates.
Interestingly, car sales increased from 9,213 in September to 11,129 in October, which is still far below the 17,413 in October 2021.
Following SBP’s relaxation of import quotas, the increase in sales and production in October shows signs of improvement.
Except for Hyundai Nishat Motors Private Limited (HNMPL), all automakers saw a slight increase in sales, indicating a recovery.
PSMC, in particular, saw a 33% increase in month-over-month (MOM) sales figures in October, selling 8003 units versus 6006 units in September.
All automakers are now experiencing fewer non-production days (NPDs), indicating an impending increase in sales in the coming days.
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