Toyota Fortuner & Hilux Sales Plummet 86% – Are the Rich Feeling the Pinch?

The December 2023 automobile sales report is out, giving us a peek into what’s been happening. The numbers are improving, with some vehicle manufacturers showing positive numbers on a monthly basis. But the overall industry’s sales are still negative when compared on a year-on-year basis. To break it down, the total car sales from December 2023 compared to the same month last year (Dec-2022) took a dip by 66%, going from 17,012 units down to 5,816 units.

Amidst this declining trend, the question remains: When or if will there be an end? Let’s delve into the numbers and find some insights.

Key Highlights

The following are the key highlights of the blog.

As you can see, tractors have got a huge increase in sales (YoY). Some cars have also got a positive number in monthly comparisons (most remain negative though). Some bike manufacturers have also seen positive month-on-month sales. The overall industry is still in the decline phase when compared annually.

Cars

Here are the highlights of car sales in December-2023.

Total year-on-year car sales decreased by 66%. The month-on-month change in sales is also negative (-10%). The sales of some Suzuki cars have increased on a monthly basis though. The year-on-year sales of all the sedans & SUVs is still negative.

Bikes

These are the bikes’ sales for the month of December-2023.

Nothing here, as all of the bike manufacturers are facing negative sales on a year-on-year basis. However, only Suzuki & Yamaha have seen positive sales (+11% & 22%, respectively) on a monthly basis.

Tractors

Let’s see the tractors’ sales for December-2023.

Tractors’ sales have massively increased on a yearly basis. The Massey Ferguson tractors have seen a massive increase of 319% in monthly sales. Fiat tractors’ sales have slightly decreased (-2%). 

Conclusion

The downtrend persists this month, but there’s a glimmer of recovery in the auto industry. Some manufacturers are reporting positive monthly numbers, though year-on-year sales remain down for most. Surprisingly, tractor sales are booming annually, even in the midst of the auto industry’s challenges. We can only hope for an improvement in the situation, and that people start buying cars & bikes like they used to a few years ago.

Data was taken from Pakistan Automotive Manufacturers Association (PAMA). Percentages are rounded off so the actual may slightly vary.

What are your thoughts on the current situation of the automobile industry? Share your opinion in the comment section below.