Overview
The auto industry’s collapse continues, with sales falling again in January 2023 due to decreased output and demand.
According to the most recent data from the Pakistan Automotive Manufacturers Association (PAMA), carmakers (association members only) sold just 10,867 automobiles in January 2023, a 36% decline month over month but a 47% decrease year over year.
The following are the monthly sales figures for several popular vehicles:
Toyota Auto Industry Sales Stats
Toyota Indus Motor Company (IMC) sold 3,570 vehicles, representing a 26% increase in sales year on year.
Honda Auto Industry Sales Stats
Honda Atlas Cars Limited sold 2,704 vehicles, a 33% increase from the previous month.
Pak Suzuki Motor Company Sales Stats
Pak Suzuki Motor Company sold 2,946 vehicles, a 74% decrease from the previous month.
Hyundai Nishat Motors Sales Stats
Hyundai Nishat Motors Private Limited sold 1,143 units last month, an 81% increase over the previous month. Tucson was once again the company’s front-runner.
Joint Letter For Auto Industry
The country’s auto sector has warned the government that it is on the verge of extinction. PAMA and the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) issued a joint letter to State Bank of Pakistan (SBP) Governor Jameel Ahmed earlier this month.
According to the letter, the industry is suffering as a result of SBP limitations and banks’ lack of cooperation. As a result, factories are closing on a regular basis, and assemblers and vendors are laying off people. The letter stated that if preventive steps are not implemented, this scenario will result in widespread unemployment, income loss for the government, the closure of car assembly plants, and capital loss.
Citing these facts, both groups requested the SBP governor to lift import restrictions in order to preserve the future of the car industry.
