Like most auto assemblers, 2023 was a forgettable year for Pak Suzuki. The decline in consumer purchasing power, increased inflation, disruptions in the supply chain amid import restrictions imposed by the government, high auto finance costs, and fluctuating exchange rates resulted in a sharp decline in sales.
Pak Suzuki being the largest market player commands over 55% of the market share but none of its models was able to perform well during the previous calendar year. The worst hit was the 1000cc duo, Wagon R and Cultus, which suffered a 77% and 73% decline, respectively. Sales of Wagon R went down from 15,273 units in 2022 to just 3,494 units in 2023, while that of Cultus fell from 13,798 units in 2022 to just 3,721 units in 2023.
The two elderly uncles, Ravi and Bolan, saw a weak sales trend as well with sales going down by 67% and 36% respectively. Ravi’s sales crashed from 9,072 units to 2,983 units whereas Bolan’s sales fell from 8,557 units in 2022 to only 3,190 units in 2023. Suzuki Swift also saw its sales going down by a big margin, having sold 12,833 units in the calendar year 2022 but saw only 4,433 units leaving the showroom floors in 2023 resulting in a 65% decline in sales.
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Despite a terrible drop in sales, Suzuki’s best-selling vehicle, the Alto, continued to be the most popular model in the lineup. Sales of Alto dropped by 68% from 66,427 units in 2022 to 21,170 units in 2023. However, it managed to remain Pakistan’s best-selling vehicle by a significant margin.
Pak Suzuki’s overall sales fell by 69% from 125,960 units in 2022 to just 38,991 units in 2023. Analysts believe 2024 is also going to be a tough year for the auto industry, but stakeholders and assemblers are optimistic that sales will recover.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
