Full Throttle: Hyundai Tucson and Suzuki Bikes Race to 200% & 160% Sales Growth

The July 2023 automobile sales report is out, giving us a peek into what’s been happening. It’s a bit of a mixed bag, with some car makers showing signs of getting back on track, while others are still wrestling with ongoing hurdles. To break it down, the total car sales from July 2023 compared to the same month last year took a dip by 57%, going from 11,925 units down to 5,092 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.

Main Highlights

The following are the main highlights of the blog.

As you can see, there are positive numbers for some cars and bikes. But still, the overall industry is in decline both on a monthly and annual basis. 

Cars

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

Total year-on-year car sales in Pakistan decreased by 57%. The month-on-month change in sales is also negative (-16%). The sales of some SUVs have increased on a monthly and yearly basis though. It means customers are not buying cars due to higher prices and economic situation.

Bikes

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

Great news for Suzuki bike lovers as the company’s sales have increased by 164%. The same goes with the United bikes with an 81% increase in the sale. The other bike manufacturers have seen a decline in sales this month as well.

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Tractors

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

Tractor sales improved by 19% compared to the previous year. While Fiat’s month-on-month tractor sales have improved by 20%, Massey Ferguson saw a 64% increase in year-on-year sales. 

Conclusion

Overall, it appears the auto industry is showing signs of picking up every month. We’ve witnessed a significant boost in sales for certain cars, bikes, and tractors. Still, when we look at the bigger picture, the numbers are mostly in the red—both when comparing month-to-month and year-to-year.

However, we must keep in mind that even positive numbers might not paint the complete picture. Around this time last year, sales were starting to dip. So, the rise in sales could be a signal that things are gradually improving, but the improvement might not be as strong when we look back two years.

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 (tractor, bike, or car sales in Pakistan)? Share your opinion in the comment section below.