Car Sales Declined by 25% in January 2022

Sales of local assembled automobiles declined by 25% on month-on-month basis in January 2022. According to analysts, a further decline is expected as higher fuel prices, interest rates, tougher bank financing and rising vehicle costs have made consumers reluctant in buying new cars.

Data released by Pakistan Automotive Manufacturers Association (PAMA) showed auto volumes stood at 20,610 units in January as the industry saw quarter of their sales dropping as compared to 27,331 units in December 2021.

Related: Cars Sales: Booked vs Delivered

Indus Motors Company (IMC), the assemblers of Toyota cars in Pakistan, was the only company that showed month-on-month sales growth of 8%, selling 6,800 units. Pak Suzuki and Honda Atlas posted a decline of 42% and 14% on a month-on-month basis respectively. Sales of other automakers including Hyundai, Isuzu and BAIC as well as non-PAMA members such as Kia, Changan, Regal and United have all witnessed a decline in sales in January.

corolla yaris

The most significant thing in the data released by PAMA is that IMC, just like Honda has stopped releasing individual sales figures of Toyota Corolla & Yaris and is presenting them as combined figure just like Civic & City. As per which 5,528 units of Corolla+Yaris were sold in comparison with just 3,646 units of Civic+City combined. Furthermore the sales of Fortuner and Hliux are also being presented as a combined figure. Nevertheless in terms of individual sales, Suzuki Alto remained the highest selling car of the month with 3,864 units sold in January however it suffered 58% decline in sales on month-on-month basis.

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