The latest report on bike sales statistics for February 2023 is alarming. Year-on-year bike sales have dropped by 25%, and month-on-month sales are down nearly 5%.
One possible culprit contributing to this decline is the significant increase in bike prices compared to last year. Due to the massive increase in USD to PKR rate and increased fuel prices, the cost of raw materials and shipping has also risen sharply.
Manufacturers have had no choice but to pass these increased costs onto customers, making bikes less affordable for many people. This, coupled with a poor economic situation, has resulted in a significant drop in sales.
Many of you will now be wondering about the total sales of each bike manufacturer in Feb 2023. So, let’s see the bike sales in Pakistan.
Latest Bike Sales Numbers
Let’s take a look at the overall bike sales statistics.
We will compare the following statistics:
- YOY (year-on-year) sales:
Sales of bikes in Dec 2022 as compared to their sales in the same month last year (Dec 2021).
- MOM (month-on-month) sales:
Sales of bikes in Dec 2022 compared to their sales for the previous month (Nov 2022).
Total Bike Sales Stats
Total YOY sales statistics:
Total MOM sales statistics:
Bikes’ Sales in Pakistan (Feb 2023)
Let’s see the MoM and YoY sales of bikes in Pakistan.
Month-on-Month (MOM) Bikes’ Sales Data (Jan-23 vs Feb-23)
Here are the MOM sales of popular bike manufacturers/assemblers in Pakistan.
As we can see, Yamaha month-on-month sales have increased significantly in Feb-23. Road Prince bikes have also seen positive growth. However, the sales of Honda, Suzuki, and United Motorcycles have declined.
Year-on-Year Bike Sales (Feb-22 vs Feb-23)
Here are the year-on-year bike sales statistics of major bike manufacturers in Pakistan.
This table shows that there is a major decrease in the sales of all the bike manufacturers compared to the same month the previous year. Many companies were facing issues in importing raw materials a while ago. Also, frequent price hikes are showing their impact now as many people can’t afford the bikes.
Let’s see the winners of February 2023.
Even with low sales compared to last year, Honda is still way ahead of other bike companies. United and Roar Prince are in 2nd and 3rd place respectively.
If we see the sales compared to the previous month, Yamaha is the clear winner. Road Prince has also made positive sales.
Let’s see the bike brands that have the least number of units (bikes) sold.
Despite being a good performer on a month-on-month comparison, Yamaha is still on the losing side in terms of the total number of units sold. After Yamaha, Suzuki has the least number of units sold.
If we see the bike manufacturers’ sales compared to the previous month, Suzuki is the loser here with -10% sales followed by United (-8.5%) and Honda (-5.6%).
Sales Comparison of Bike Manufacturers (Feb-2023)
Here is the graph that shows the sales of each bike manufacturer compared to others.
As we can see, Honda is the clear winner here. Yes! The tallest building in the street belongs to Honda. The 2nd most successful bike manufacturer (in terms of units sold) was United Motorcycle. 3rd on the list is Road Prince. Many of you will be shocked to see that Suzuki beats Yamaha with over ~2 times more sales.
The year 2023 is not good for the automobile industry and its consumers. Bike manufacturers have increased the prices several times in just a span of under 3 months. Due to this, many people started buying motorcycles in used condition instead of new ones. It impacted the sales of many bike brands in the country.
Let’s see what happens this year as there are some chances of price hikes in the coming months due to the worsening political and economic situation.
Which bike brand do you like the most? Tell us in the comment section below.