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PAMA Car Sales Report (May 2022)

PAMA Car Sales Report (May 2022)

The Pakistan Automotive Manufacturers Association (PAMA) has released its latest sales numbers. Believe it or not, there has been a 1.6% increase in car sales in the month of May 22 as compared to Apr 22. Year-on-year (YOY) sales have increased by 46% (approx.).

Indeed, surprising car sales statistics for the month May-2022. The sales of most cars have increased in the last month despite the frequent price hikes, inflation, and other economic disturbances. This increase in sales will come as good news for the auto companies as most people were expecting a decline in sales this month again due to the economic situation and car price increase.

Let’s take a detailed look at the sales numbers of various auto manufacturers: 

Latest Sales Numbers

Let’s take a look at the sales numbers of the popular models of various auto manufacturers. 

We will compare the following statistics,

  • YOY (year-on-year) sales: 

Sales of a car model for the month of May 2022 as compared to its sales in the same month last year (May 2021).

  • MOM (month-on-month) sales: 

Sales of a car model for the month of May 2022 as compared to its sales for the previous month (Apr 2022).

Honda Pakistan Sales Numbers

Honda Atlas Cars (Pakistan) Ltd. is a famous automobile manufacturer in Pakistan. It produces some of the most popular cars like Honda Civic, City, and BRV.

Let us have a look at their sales statistics (MOM and YOY) for May 2022.

Honda City and Civic (All Variants) 

Honda City and Civic YOY sales statistics:

May 2021May 2022Difference
1,5812,681+69.6%

MOM statistics:

Apr 2022May 2022Difference
2,2652,681+18.4%

 

Honda BR-V

Honda BR-V YOY sales statistics:

May 2021May 2022Difference
420229-45.5%

MOM statistics:

Apr 2022May 2022Difference
364229-37.1%

Toyota Indus 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):

Toyota Corolla & Yaris YOY sales statistics:

May 2021May 2022Difference
3,6134,263+18.0%

MOM statistics:

Apr 2022May 2022Difference
4,1174,263+3.5%

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.

Toyota Fortuner & Hilux YOY sales statistics:

May 2021May 2022Difference
1,0631,619+52.3%

MOM statistics:

Apr 2022May 2022Difference
1,6581,619-2.4%

 

Pak Suzuki 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

Suzuki Alto YOY sales statistics:

May 2021May 2022Difference
3,3755,461+61.8%

MOM statistics:

Apr 2022May 2022Difference
5,0095,461+9.0%

 

Suzuki Wagon R

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.  

Suzuki Wagon R YOY sales statistics:

May 2021May 2022Difference
1,4912,258+51.4%

MOM statistics:

Apr 2022May 2022Difference
1,8232,258+23.9%

 

Suzuki Cultus

Suzuki Cultus’s YOY sales statistics:

May 2021May 2022Difference
1,8201,270-30.2%

MOM statistics:

Apr 2022May 2022Difference
1,7451,270-27.2%

 

Suzuki Bolan

This mini MPV is the main “workhorse” on the roads of Pakistan.

Suzuki Bolan YOY sales statistics:

May 2021May 2022Difference
764723-5.4%

MOM statistics:

Apr 2022May 2022Difference
860723-15.9%

 

Hyundai Nishat Sales Numbers

Vehicles of Hyundai Nishat are gaining much popularity. Most of us know about the Hyundai Tucson, Elantra, and Sonata. Let us discuss their sales statistics here.

Hyundai Tucson

Hyundai Tucson YOY sales statistics:

May 2021May 2022Difference
255639+150.6%

MOM statistics:

Apr 2022May 2022Difference
553639+15.6%

Hyundai Elantra

Hyundai Elantra YOY sales statistics:

May 2021May 2022Difference
259594129.3%

MOM statistics:

Apr 2022May 2022Difference
240594147.5%

 

Hyundai Sonata

MOM statistics:

Apr 2022May 2022Difference
29340036.5%

The Winners in MOM Comparison (May 22 / Apr 22)

  • Hyundai Elantra (+147.5%)
  • Hyundai Sonata (+36.5%)
  • Suzuki Wagon R (+23.9%)
  • Honda City and Civic (+18.4%)
  • Hyundai Tucson (+15.6%)
  • Suzuki Alto (+9.0%)
  • Toyota Corolla & Yaris (+3.5%)

The Losers in MOM Comparison (May 22 / Apr 22)

  • Honda BR-V (-37.1%)
  • Suzuki Cultus (-27.2%)
  • Suzuki Bolan (-15.9%)
  • Toyota Fortuner & Hilux (-2.4%)

The Winners in YOY Comparison (May 22 / May 21)

  • Hyundai Tucson (+150%)
  • Hyundai Elantra (+129.3%)
  • Honda City and Civic (+69.6%)
  • Suzuki Alto (+61.8%)
  • Suzuki Wagon R (+51.4%)
  • Toyota Fortuner & Hilux (+52.3%)
  • Toyota Corolla & Yaris (+18.0%)

The Losers in YOY Comparison (May 22 / May 21)

  • Honda BR-V (-45.5%)
  • Suzuki Cultus (-30.2%)
  • Suzuki Bolan (-5.4%)

Analysis

In terms of number of units sold, Suzuki Alto is the winner with 5,461 units sold in May 2022. When we take percentage increase as a benchmark, Hyundai Elantra is the clear winner with 147.5% increase in its sales (594 units).

Sales of Honda Civic & City (4,263 units) have increased (+18.0%) way more than the sales increase (+3.5%) of Toyota Corolla and Toyota Yaris (4,263). Toyota still has a greater number of units sold though.

After a massive increase (470%) in the sales of Suzuki Cultus (1,745 units) in Apr 2022, the sales (1,270 units) were down (-27.2%) in May 2022. Eid and price hike can be the major factors contributing to its decreased sales and increased sales (+23.9%) of Suzuki Wagon R (2,258 units). 

Final Verdict

The sales of vehicles which had dropped in Apr 2022 due to the economic and political situation have now bounced back a bit (1.6%). But this increase cannot guarantee future increase in sales. 

Due to 100% increase in advance taxes on non-filers, imposition of 2% CVT, higher interest rates coupled with restrictions on auto financing, it is likely that the demand will nosedive in the coming months. 

To summarize, the proposed taxes in the new budget have the potential to slow down sales in the coming months. In addition, fuel prices are rising and that can increase transportation and raw materials’ cost. As a result, the companies might increase car prices. Imposition of 2% CVT will hurt crossover SUV sales. It might encourage people to buy used cars instead of new ones.

How do you see the automobile industry in the coming days? Will its sales decline due to new proposed taxes and fuel price hikes? Tell us in the comment section below.

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