Car Sales Witness 5% Surge in February 2022

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Sales of local assembled passenger cars witnessed a 5% surge on month-on-month basis to 21,664 units in February 2022 according to the data released by Pakistan Automobile Manufacturers Association (PAMA).

This is 32% more than the corresponding period of previous year whereas during the first 8 months of current fiscal year, a 56% year-on-year increase to 178,250 units was recorded.

Related: MG to Launch 3 Locally Assembled Vehicles Soon

The growth was led by vehicles below 1,000cc engine capacity, as Suzuki Alto sales doubled to 7,175 units. However, vehicles of 1,300cc and above segment showed a decline of 32% in sales, mainly due to dip in sales of Corolla/ Yaris and City/ Civic by 34% and 37% respectively.

Alto660 1

Pak Suzuki sales increased by 40% month-on-month, led by 86% growth in sales of Alto and 44% increase in sales of Cultus. Honda Atlas and Indus Motor Company (IMC) posted a decline of 32% month-on-month each, in sales during February 2022. Although both Honda Atlas and IMC no longer share individual sales of their local assembled sedans, according to Auto Journal, just 140 units of Civic (10th gen) were sold as the company has recently launched the new 11th gen Civic model in the market. Sales of City however were impressive at 2,146 units in February.

City1 1

On the other hand Toyota Yaris dropped to its lowest ever sales figure to just 1,395 units however IMC’s figures were helped by Toyota Corolla which saw 2,251 units retaining its spot as the bestselling sedan of Pakistan.

corolla blue

Hyundai Nishat emerged as a clear winner in February 2022 in terms of growth having sold 1,469 units up 240% on a month-on-month basis. Sales of Tucson rose by 474% to 774 units, while Elantra sales grew by 290% to 312 units.

 

elantra w

While the current sales numbers are encouraging, according to analysts the industry is expected to face the fallout of inflation in the coming months, and with new global uncertainties, the market may witness a downward trend after August 2022.

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