Pakistan Auto Sector Loses Momentum Again with Steep Decline in Sales

Pakistan Auto Sector Loses Momentum Again with Steep Decline in Sales

After a brief recovery in car sales in March 2023, Pakistan’s auto sector has hit a new slump. Last month, carmakers, who are members of the association, sold a total of 4,463 vehicles, experiencing a month-over-month (MoM) decline of 52% and a year-over-year (YoY) decrease of 80%. 

While Toyota Indus Motor Company (IMC) recorded a slight increase in sales, other major car manufacturers such as Honda Atlas, Pak Suzuki, and Hyundai Nishat suffered significant declines. 

The top five best-selling cars in Pakistan in April 2023 are as follows: 

5: Toyota Fortuner 

Despite its high price tag, the Toyota Fortuner remains a popular choice for Pakistani buyers. Toyota sold 304 units of this ultra-expensive SUV, making it the second best-selling SUV in the country. 

4: Hyundai Tucson 

Hyundai Tucson has overtaken its Korean counterpart, Kia Sportage, as the most popular crossover SUV in Pakistan, with 315 units sold last month. 

Read More: Karachi Celebrates 1st Anniversary of Pakistan’s First Online Antique Cars Museum with Grand Parade

3: Toyota Hilux 

The Toyota Hilux, particularly the Revo variant, has gained immense popularity in Pakistan recently. The truck sold 637 units last month, despite its hefty price tag of over Rs. 1 crore. 

2: Toyota Corolla 

The Toyota Corolla remains a crowd-favorite in Pakistan, despite the steep increase in prices. The nearly decade-old sedan sold 720 units in April, becoming the second best-selling car in the country. 

1: Suzuki Alto 

After a dismal performance in the previous two months, the Pak Suzuki Alto reclaimed its position as the best-selling car in Pakistan, with 820 units sold in April. However, the company’s success remains uncertain due to the unstable economic conditions in the country. 

While the auto sector in Pakistan is struggling with inflation, the demand for economy cars remains low. The uneven sales trends continue to raise concerns for the industry, and experts predict a long road to recovery. 

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