Automobile market in Pakistan is experiencing a massive slowdown in sales due to constantly depreciating Rupee value and added duties and taxes which have pushed the prices of cars beyond the reach of many.
This is the first time in the last 6 years that automobile sales have witnessed a decline with sales dwindling 8% to 237,950 units in fiscal year 2019. However even in these tough times, Indus Motor Company (IMC) recorded a growth of 4% in sales to 65,399 units in FY-2019. The increase in sales was led by Toyota Corolla, which recorded a growth of 10% to 56,720 units.
This is also the 5th consecutive fiscal year in which IMC has managed to sell more than 50,000 Toyota Corolla sedans in Pakistan. No other car in Pakistan has ever managed to achieve the feat of selling more than 50,000 cars in a year.
Ever since the 11th generation Corolla was introduced (2014), IMC has been able to sell more than 50,000 units in each fiscal year, the feat which previously no previous Corolla generation has been able to achieve. Indus Motors have sold 269,658 units of the 11th generation Toyota Corolla since it was introduced some 5 years ago. It is imperative to mention here that Pakistan also has the highest Toyota Corolla sales in Asia Pacific region and ranks 4th in the world in terms of sales volume.
Toyota Corolla is available with 3 engine options in Pakistan- the 1.3 liter 2NZ-FE, 1.6 liter 1ZR-FE and 1.8 liter 2ZR-FE while IMC has stated to offer engine immobilizer and driver/ passenger airbags as standard across the entire range.
Toyota Corolla is world’s most successful vehicle having sold nearly 46 million units since it was first introduced in the 1960s. Corolla is also the longest running nameplate in the history of automobiles, and is also the global leader in vehicle sales each year.