Defying all odds, sales of passenger cars in Pakistan leapfrogged to a historic high at 28,379 units in June 2022, soaring 24% compared to the previous month and 106% compared to the same month a year ago. The significant growth in sales of 4-wheelers came across all segments, but was led by the most expensive SUV segment followed by the most economical cars below 1,000cc engine capacity. However, a decline was observed in sales of 2-and 3-wheelers.
Based on the old advance booking orders in hand made a few months back and whose deliveries are now being made, total passenger car sales posted a staggering growth of 55% to 234,180 units in FY22 from 151,182 units in FY21. Sales of SUVs stood at 45,087 units during FY22 compared to 30,215 units in FY21, rendering an impressive 50% surge. Sales of Toyota Hilux and Fortuner alone witnessed a 70% jump from 10,586 units in FY21 versus 18,005 units in FY22.
According to figures released by the Pakistan Automotive Manufacturers Association (PAMA), Suzuki Alto 660cc emerged as the highest selling car with 71,198 units as compared to 37,720 units in FY21, rendering an 89% surge. This was followed by 56,526 units of Toyota Yaris and Corolla (combined) compared to 46,650 units sold a year earlier. Honda Civic and City finished third, with a 39% increase in sales to 35,197 units, up from 25,276 units in FY21.
Suzuki Cultus and WagonR sales increased by 32% and 83% respectively, to 23,169 and 23,131 units, compared to 17,510 and 12,659 units. Bolan sales increased by 51% from 8,196 units to 12,361 units. Sales of Suzuki Swift soared from 2,316 units to 6,190 units. Hyundai Elantra and Sonata sales have clocked in at 3,610 and 2,782 units respectively.
Among other vehicles, Honda BR-V sales increased by 6% to 4,255 units from 4,015 in FY21. With a 48% jump, Suzuki Ravi sales stood at 14,230 units as compared to 9,631 units. Hyundai Tucson and Porter sales increased by 31% from 3,748 to 4,895 units and by 55% from 1,187 units to 1,845 units respectively. Sales of Isuzu D-MAX increased by 50% from 316 in FY21 to 473 units in FY22.
Despite enjoying healthy numbers, local auto assemblers anticipate a nearly 30% drop in sales in fiscal year 2022-23 in view of uncertainty after the increase in withholding tax on filers and non-filers, imposition of 1% capital value tax on vehicles exceeding 1,300cc, strict auto financing rules to compress demand, high interest rates and more price shocks ahead.
A 3d animation professional with over 20 years of industry experience having served in leading organizations & production facilities of Pakistan, an avid car enthusiast and petrolhead with an affection to deliver writings to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com