Analysis,Autos,General News

Pakistanis Keep Buying New Cars

Pakistanis Keep Buying New Cars

The Pakistan Automotive Manufacturers Association (PAMA) latest sales figures for the month of February 2022 have been released. Like the previous month’s numbers, these figures are very encouraging too.

Looking at year-on-year (YOY) sales figures, 32% more vehicles were sold in February 2022 as compared to February 2021. Similarly, the month-on-month (MOM) numbers are positive too. Last month, 5% more vehicles were sold in February 2022. 

Car Sales Analysis 

While the numbers are positive for the auto industry, some automobile manufacturers sold more vehicles than others. For example, Pak Suzuki sold a lot more than Toyota and Honda Pakistan.

More specifically, cars under 1,000cc sold more than 1,300cc and above cars. MOM sales of Alto and Cultus increased by 86% and 44% respectively. On the other hand, the sales of Corolla/Yaris and City/Civic decreased by 34% and 37% respectively. 

Reasons Behind Growth in Sales Numbers

This phenomenal growth is largely led by the fact that many new auto manufacturers have entered the local market like Peugeot; more are inclined towards entering the market. A second factor is the introduction of new models like Suzuki Swift 2022, and Honda Civic 2022. A third factor is the people’s response towards bookings of these new vehicles which has been positive. 

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: 

Feb 2021Feb 2022Difference
219222864%

MOM numbers are:

Jan 2022Feb 2022Difference
36462286-37%

Honda BR-V

Honda’s other hottest selling model, BR-V posted the following (YOY) sales numbers:

Feb 2021Feb 2022Difference
23746195%

This subcompact crossover SUV’s MOM sales numbers are:

Jan 2022Feb 2022Difference
41846110%

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):

YOY:

Feb 2021Feb 2022Difference
37433646-3%

MOM:

Jan 2022Feb 2022Difference
55283646-34%

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.

Feb 2021Feb 2022Difference
64198454%
Jan 2022Feb 2022Difference
1269984-22%

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

Feb 2021Feb 2022Difference
4245717569%

Alto’s MOM numbers:

Jan 2022Feb 2022Difference
3864717586%

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.  

Feb 2021Feb 2022Difference
8141646102%
Jan 2022Feb 2022Difference
153716467%

Suzuki Cultus

Cultus’s YOY sales numbers are as follows:

Feb 2021Feb 2022Difference
1484169214%

MOM:

Jan 2022Feb 2022Difference
1172169244%

Suzuki Bolan

This mini MPV is the main “workhorse” on the roads of Pakistan. It’s YOY and MOM sales numbers are as follows:

Feb 2021Feb 2022Difference
913107017%
Jan 2022Feb 2022Difference
956107012%

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

This compact SUVs YOY sales numbers are:

Feb 2021Feb 2022Difference
54677442%

Its MOM sales numbers are as follows:

Jan 2022Feb 2022Difference
135774473%

The Biggest Winners

  • Hyundai Tucson
  • Suzuki Cultus
  • Suzuki Alto
  • Suzuki WagonR

The Biggest Losers

  • Honda City/Civic
  • Toyota Corolla/Yaris
  • Toyota Fortuner and Hilux

What to Expect in Future

The factors, namely people’s purchasing power, which have contributed towards increasing car sales for the first two months of 2022 will continue to fuel their growth in the coming months too.  However, car sales numbers are expected to decline from August 2022 onwards due to inflation and global uncertainties. 

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