Car Sales Declined by 18% in April 2022

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After witnessing the second-highest monthly sales ever, at 27,131 units in March 2022, sales of local assembled vehicles declined by 18% in April with 22,370 units according to the data released by PAMA (Pakistan Automobile Manufacturers Association).

The decline in April 2022, which is attributed towards constantly rising car prices, and restrictions on auto financing of new cars is primarily led by below 1,000cc car segments, where sales of 660cc Suzuki Alto almost halved to 5,009 units; but the impact was partially offset due to growth in 1,000cc car segments, as sales of Cultus increased almost five-time to 1,745 units after recovering from supply-chain issues. Pak Suzuki also commenced the delivery of the new Swift model which saw sales of 2,273 units during the month, way more than that of Toyota Yaris and Honda City. Overall, Pak Suzuki sales were down by 16% month-on-month to 12,639 units in April 2022.

Honda Atlas car recorded steepest decline of 28% month-on-month to 2,629 units in April 2022, the sales of City and Civic reduced by 31% month-on-month. Similarly, Indus Motor Company (IMC) also posted a decline of 18% month-on-month due to a decline in sales of Corolla and Yaris by 24% month-on-month. Bear in mind the company as stopped disclosing individual numbers of its sedans and IMVs.

Sales of Hyundai Nishat were down by just 1% month-on-month to 1,287 units in April 2022, primarily due to a 63% increase in sales of Porter commercial pickup and 17% surge in sales of Sonata D-segment sedan.

Although sales were down compared to March, the momentum remained positive in April 2022 compared to the same month of the previous year, as the sales surged 30% year-on-year, mainly on the back of resumption of pre-Covid-level economic activities along with the launch of new models such as the new Suzuki Swift which has been well-received by the public.

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