As recently as last month, many were wondering whether the car sales would ever come down given their rapidly increasing prices. After all, it was only last month when we reported 24% month-on-month and 106% year-on-year increase in car sales.
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PAMA Pakistan Cars Sales Report (October 2022)
However, in the same blog we had mentioned that these “magical numbers” are a reflection of car bookings prior to price hike. And that these numbers won’t hold for long. And the worst, as predicted, has happened.
If we were reporting on the Stock Exchange Market, we would have used the word “bloodbath”. On average, a 59% sales drop is no less than a bloodbath for the auto industry. And it is expected to get worse in the coming months, if remedial steps aren’t taken soon.
Honda Atlas Latest Sales Numbers
Let’s take a look at the sales numbers of various auto manufacturers, their popular models with their YOY and MOM sales.
Honda City and Civic (All Variants)
Honda’s two most popular models – City and Civic sales (YOY) numbers are:
| July 2021 | July 2022 | Difference |
| 1700 | 2408 | 42% |
MOM numbers are:
| Jun 2022 | July 2022 | Difference |
| 3421 | 2408 | -30% |
Honda BR-V in Pakistan
Honda’s other hottest selling model, BR-V posted the following (YOY) sales numbers:
| July 2021 | July 2022 | Difference |
| 607 | 129 | -79% |
This subcompact crossover SUV’s MOM sales numbers are:
| Jun 2022 | July 2022 | Difference |
| 482 | 129 | -73% |
Toyota Indus Latest Sales Numbers
Indus Motor Company Limited (IMC) is the maker of some of the most popular cars in Pakistan, including Corolla, Yaris, Fortuner and Hilux.
Let’s take a look at their YOY and MOM sales numbers.
Toyota Corolla & Yaris (All Variants):
YOY:
| July 2021 | July 2022 | Difference |
| 5020 | 1734 | -65% |
MOM:
| Jun 2022 | July 2022 | Difference |
| 4453 | 1734 | -61% |
Toyota Fortuner & Hilux (All Variants)
Toyota’s flagship utility vehicle, Fortuner is a mid-size SUV, which seems to have captured this niche segment in Pakistan. Hilux is a pick-up truck, which is often used as a security vehicle in VIP entourages.
Let’s look at their YOY and MOM sales numbers.
| July 2021 | July 2022 | Difference |
| 1695 | 641 | -62% |
| Jun 2022 | July 2022 | Difference |
| 1856 | 641 | -65% |
Pak Suzuki Latest Sales Numbers
Suzuki is perhaps the most prominent brand in Pakistan with a variety of models and their variants. Suzuki’s Swift, Cultus, Wagon R, Alto and Bolan are the most commonly seen vehicles on the road. Let’s take a look at their YOY and MOM sales numbers.
Suzuki Alto in Pakistan
| July 2021 | July 2022 | Difference |
| 6110 | 4618 | -24% |
Alto’s MOM numbers:
| Jun 2022 | July 2022 | Difference |
| 7487 | 4618 | -38% |
Suzuki Wagon R in Pakistan
One of the most prominent and popular kei cars in Pakistan, Wagon R is the automobile behind the Uber revolution in Pakistan. Let’s look at its YOY and MOM sales numbers.
| July 2021 | July 2022 | Difference |
| 2131 | 282 | -87% |
| Jun 2022 | July 2022 | Difference |
| 2134 | 282 | -87% |
Suzuki Cultus in Pakistan
Cultus’s YOY sales numbers are as follows:
| July 2021 | July 2022 | Difference |
| 4213 | 661 | -84% |
MOM:
| Jun 2022 | July 2022 | Difference |
| 2468 | 661 | -73% |
Suzuki Bolan in Pakistan
This mini MPV is the main “workhorse” on the roads of Pakistan. It’s YOY and MOM sales numbers are as follows:
| July 2021 | July 2022 | Difference |
| 950 | 353 | -63% |
| Jun 2022 | July 2022 | Difference |
| 1216 | 353 | -71% |
SUVs
Another automobile segment which has done really well in terms of sales is the compact SUV category. Kia Sportage, Hyundai Tucson and MG ZS and HS are the front contenders in this segment. Unfortunately, PAMA has not provided sales numbers for Kia and MG; however, Hyundai Tucson sales numbers are available.
Hyundai Tucson in Pakistan
This compact SUVs YOY sales numbers are:
| July 2021 | July 2022 | Difference |
| 175 | 104 | -40% |
Its MOM sales numbers are as follows:
| Jun 2022 | July 2022 | Difference |
| 897 | 104 | -88% |
The Biggest Winners
Given the present scenario, it’s really hard to select winners from this list. However, the following have done fairly well in terms of sales:
- Honda City and Civic (YOY Sales)
The Biggest Losers
These makes and models have taken the biggest hit:
- Honda BR-V
- Toyota Corolla and Yaris
- Suzuki Alto, Wagon R, Cultus and Bolan
- Hyundai Tucson
While we have not covered Hyundai sedans – Elantra and Sonata – in this blog, their July sales are zero.
What to Expect in Future
The main reason for these dismal sales numbers is the ever-increasing prices of cars. All auto manufacturers have increased their prices multiple times this year. However, with a declining US Dollar against the Pak Rupee, many are expecting these companies to decrease their prices. Without it, there won’t be many car sales in the coming months.
At the same time, it would be unfair not to point out other actors and factors that have led to the present predicament. The State Bank of Pakistan, through its restrictive import policies have increased the cost of auto manufacturing.
To understand this complex matter in simple terms, read: Pakistan Automobile Sector Under the Mixed Economic System
While, this invasive policy has jacked up prices of cars due to limited supply and a constant or increasing demand, this policy in the long run will drive down the demand as well. So, we can expect the car sales to remain low in the near future.
To read more about auto industry’s future: With Auto Sales Dropping, Pak Automobile Industry in the Midst of Crisis
To check out the biggest variety of used cars in Pakistan, do visit OLX Pakistan’s page.
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