Toyota Records Highest Sales in 12 Months

The latest car sales report is in, and it’s good news for the Big 3 – Toyota, Honda, and Suzuki. Toyota, in particular, has clinched the top spot with the highest sales in the last 12 months. Intrigued? Let’s see the details with a quick overview of these automotive giants’ sales.

Toyota Vs. Honda Vs. Suzuki Cars’ Sales

Now, when we look at the numbers, Suzuki takes the lead, consistently outselling the others from Jan-23 to Jan-24. Toyota outpaced Suzuki three times and Honda once though. However, Suzuki hit a speed bump in Feb-2023, recording only 978 sales for the entire month. Quite a dip compared to selling nearly 10K Alto units in March 2022. Talk about a speedy twist in just one year!

Shifting gears to Toyota, it’s the second most successful, usually ahead of Honda throughout the last year. But, Honda took the lead for two rough months (Nov-23 & Dec-23), which happened to be Toyota’s worst. In Dec-23, Toyota hit a low with only 684 units sold. To put things in perspective, Toyota roared with over 7K sales back in March 2022. A tough road for Toyota in the past year, indeed.

Now, for the grand finale – Honda. Unfortunately, it held the lowest position among the Top 3 car makers in Pakistan. Once flying high in Jan-2022 with over 4K units sold, brace yourself for a jaw-dropping figure. Sales nosedived to less than 100 units in May 2023. But, fear not, there’s a silver lining – a comeback story. The company’s sales are on the upswing in Jan-2024, hitting the highest in four months and the second-highest in eleven months.

So, as of January 2024, all three giants are on an upward trajectory. Will this trend continue? Only time will tell. Now, let’s compare their 2023 vs. 2022 sales.

Companies	2022 Sales	2023 Sales	Difference
Suzuki	125947	38988	-69%
Toyota	54768	19995	-63%
Honda	31007	10661	-66%

The numbers paint a grim picture – all three companies faced massive challenges in 2023, with sales dropping by more than 60%. Suzuki took the biggest hit, suggesting that middle-income buyers weren’t as keen on buying cars, likely due to high prices and inflation. However, Toyota and Honda were not too behind. Now, let’s see the sales trends of these auto giants.

Sales Trend of Toyota

Toyota’s sales have seen a turnaround in Jan-2024, marking the highest figures in 12 months. Quite surprising considering the previous year’s lowest sales. The launch of the Corolla Cross in late December 2023 played a significant role, but even with that boost, Jan 2024 sales (2,762) are still lower than Jan 2023 (3,570).

Sales Trend of Honda

Honda also faced a challenging 2023, hitting a shocking low of below 100 units in May. Since then, there’s been a fluctuating recovery, with Jan-2024 (1,339) showing improvement over Dec-2023 (901). However, there’s still a drop in year-on-year sales (1,339 in Jan-2024 vs. 2,704 in Jan-2023).

Sales Trend of Suzuki

Despite being the top-selling manufacturer, Suzuki took a hit in 2023 with sales down by a staggering 69%. However, there’s a silver lining – the company has reported the highest sales in 10 months in Jan-2024. The spike in Alto’s sales (2,983), the highest in 13 months, is the driving force. Suzuki is the only one among the top 3 with an increase (+54%) in year-on-year sales (4,550 in Jan-2024 vs. 2,945 in Jan-2023). So, 2024 might hold promise for Suzuki, but it’s too early to say anything at the moment.

Is It the End of the Down Trend? 

Well! It’s too early to predict anything. With recent elections, a new government is on the horizon. The automobile industry’s fate rests on upcoming economic and political stability, coupled with inflation control. Also, the prices are going to play the defining role as one of the key factors behind those dropped sales were increased prices. 

So, currently, it’s a waiting game, where the industry cautiously observes how these factors unfold, shaping its future prospects.

What are your thoughts on the automobile industry’s future? Is it coming back on the track or not? Share your thoughts in the comments below!

Source: PAMA