Overview
The ongoing car sale situation is weird in Pakistan. Car manufacturers face several shut down due to the non-availability of stock. The government has made a strict rule about the import of vehicles part which leads to the low sale of cars. There is almost above 50% decline in sales compared to the previous year.
The incumbent government has made a rule of LCs approval by the State Bank of Pakistan for the import of vehicle parts. Toyota and Honda mentioned that they have a number of orders to complete but the non-availability of stock makes hurdle in manufacturing. Meanwhile, the current scenario is not in favor of car makers and losses in their sale volume.
Recent Car Sale Report
In the recent report, there is a little improvement in sales in the month of March compared to the month of February 2023. As per the Pakistan Automotive Manufacturing Association (PAMA) report car makers face a sale loss of 66% on a YoY basis. This huge loss is link with the high taxes the government has imposed on cars. The second reason is makes trouble in the import of vehicle parts.
As per the PAMA report of cars in the month of March 2023, Suzuki has great improvement and a whooping sale record of 475%. Suzuki Swift sales whopping 1200% increase in the month of March 2023 compared to February 2023. They had sold only 67 units of Swift in February but increased the number of sale units in March 2023 by 877 units. PAK Suzuki sold a total of 5,628 cars in March which details are as follows:
Sold 2,542 units of Alto
475 units of Suzuki Cultus
Suzuki Wagon R 489 units
877 Suzuki Swift units sold
782 Bolan units sold
Toyota sales only improve by 6% in the month of March 2023. On the other side, Honda reported not selling a single unit of the Honda Civic and not even producing a single unit in March 2023. The worst automotive condition happens by various economic factors.
Conclusion
Toyota Indus Honda Atlas and Pak Suzuki are the most popular Japanese brands that provide locally assembled cars in Pakistan. The recent breakdown of sales badly disturbs their yearly revenue and smooth process of manufacturing. The worst condition of the automotive industry also causes serious troubles for employees and makes several employees jobless.
