According to data released by the Pakistan Automotive Manufacturers Association (PAMA), auto assemblers witnessed a sharp fall in sales, with sales in December 2023 being 66% lower than in December 2022.
The number of cars sold by PAMA members was just 5,816, a decrease of 66% year-on-year and 10% on a month-on-month basis. Bear in mind that 17,012 units were sold in December 2022. In the meantime, total vehicle sales for the first half of the fiscal year 2023-24 were 39,454 units, a significant 53% decrease from the previous year. In comparison, the auto sector managed to sell 84,116 units during the same period of the previous year.
Related: Local Assemblers Aim for a Rebound in 2024
Indus Motor Company (IMC) reported a steep 76% YoY decline and a 28% drop on a MoM basis, selling only 684 units in December. Pak Suzuki sold 3,735 units, a 7% MoM increase, however, sales were 67% down year on year. Honda Atlas managed to sell 901 units in December 2023 for an 11% MoM and 56% YoY decline.
Numerous issues have been plaguing Pakistan’s auto sector, such as impoverished demand, depreciating currency, excessive inflation, and political unpredictability. Recent supply chain hiccups amid import restrictions have only made the issues facing the sector worse.
I don’t eat, sleep or dream of cars, I am just someone who loves to see, think & write about cars. I love Ferrari in Pink but they won’t make one for me. I use X to write my full name, but that doesn’t mean I’m inspired by Altis X, in fact, my dad hates it 😀 Btw I’m an occasional writer so don’t expect too much from me 🙂
