The current economic uproar, which is being driven by the dollar rate setting records, new taxes, rising inflation, and back-to-back price increases announced has destroyed peoples’ purchasing power, which in turn has decreased car sales.
While the failure to issue LCs fueled the unrest and forced local automakers to reduce production days, which had an immediate impact on sales figures.
According to PAMA report, the number of vehicles sold in July was 11,883 compared to 28,379 in June 2022.
Company-Wise Car Sales Breakdown
The lowest figures were recorded by Toyota Indus, which saw a substantial decline in sales of its popular automobiles, the Corolla/Yaris and Fortuner/Hilux, as a result of July 2022’s production-free days. In contrast to the 6309 units sold in June 2022, the company recorded sales of 2,375 units last month.
Meanwhile sales of the Honda Atlas dropped from 6,903 units in June to 2,537 units. (Decline MoM: 35%)
The very same thing happened with the Hyundai Nishat. The company saw a sharp decline, selling 201 units in July 2022 as opposed to 1,871 units in June 2022. (Decline MoM: 89%)
Read more: Car sales surged 55% to all-time high of 279,700 units in FY22
On the other hand, the Pak Suzuki Motors Company (PSMC), reported the lowest monthly sales with 6,679 vehicles sold. (Decline MoM: 58%)
It is important to note that none of the other automakers—Kia Lucky, Master Changan, Regal, MG, and Al-Haj Proton—are PAMA members. The PAMA report does not include their sales figures.
Car-Wise Sales Breakdown
Here is the MoM comparison of all the above sales.
|Suzuki Wagon R||2134||282||-87%|
|Toyota Corrolla & Yaris||4453||1734||-61%|
|Toyota Fortuner & Hilux||1856||641||-65%|
|Honda Civic & City||3421||2408||-30%|