Since the beginning of this year, the Pakistani automobile market has been uncertain. Car sales increase one month and then decrease in the next month. According to PAMA monthly sales report, the automotive industry saw a second major decline of 18% in car sales in April 2022 following a 25% increase in March.
The monthly car sales data for April 2022 have been released by the Pakistan Automotive Manufacturers Association (PAMA). As per PAMA statistics, the automotive market sold 22,370 vehicles in April. While the second-highest monthly sale was 27,131 units in March last month, it declined by 18% per month.
Do you know the reason behind this?
The reason is the rising dollar rates and car pricing. A sharp rise in the value of the US dollar against the rupee increased the cost of imports and prompted automakers to raise pricing. As a result, the sale dropped.
Moreover, the country assembles cars through imports, the government prohibited consumers from purchasing cars in order to avoid the depletion of foreign exchange reserves.
Sales Malfunction by companies:
Honda Atlas:
Honda Atlas automobile saw the biggest drop in sales, down 28% month on month from 3,651 in March to 2,629 in April 2022. Honda’s best-selling civic and city models got half the sale 2265 in April than 3278 in March. The company sold 364 units Honda BR-V in April as compared to 373 units.
Toyota Indus:
Toyota Indus Motor Company saw an 8 % drop in sales of all its models over the previous month, especially Corolla and Yaris sales. In addition, the firm has stopped releasing individual vehicle and IMV data. The company sold 4,117 units of Corolla and Yaris and 1,658 units of Fortuner and Hilux.
Hyundai Nishat:
Hyundai Nishat sales fell 1% month over month to 1,287 units in April 2022, owing to a 63 percent increase in Porter commercial pickup sales and a 17 percent increase in Sonata D-segment sedan sales. Elantra 240 units, Sonata 293 units, Porter 201 units, and Tucson 553 units were sold by Hyundai Nishat.
Pak Suzuki:
Paki Suzuki saw a 16% fall in company sale from decreasing to 12,639 in April. Pak Suzuki sold 1,745 units of Suzuki Cultus, 1,823 units of Suzuki Wagon RK, 2,273 units of Suzuki Swift, 860 units of Suzuki Bolan, and 929 units of Suzuki Ravi.
