Leading auto manufacturers in Pakistan, Toyota and Suzuki have posted record monthly sales of vehicles in the month of July.
Pak Suzuki Motor Company (PSMC) set the new record for monthly sales in Pakistan’s automotive industry with over 15,200 vehicles being sold by the end of July 2021, according to the company.
Indus Motors Company on the other hand also celebrated their highest ever monthly sale of vehicles in July.
In a social media post, the company wrote, “Every day is a new celebratory moment at Indus Motor Company as we achieve yet another milestone – highest ever sales in a month since its inception with 6,775 units sold. Thank you everyone for being our constant support!”
According to reports, the increase in sales by Toyota and Suzuki is due to a decrease in the rate of interest on car loans, as well as a recent decrease in vehicle pricing.
One of the key reasons for the large figures by Suzuki is that the Japanese automaker faces hardly any competitor in the Pakistani auto sector in this category. However, Prince Pearl, United Bravo and Saga may challenge Suzuki Pakistan in the near future.
That theory is supported by the fact that PSMC presently has a 66 percent market share in the automotive sector and has sold 37,730 Alto units in the fiscal year 2020-21.
PSMC saw a massive MoM sales fall of 39 percent in June, selling only 5,106 units. However, the sales fall was caused by a restricted quantity of units being created due to COVID-19-related issues around the world.
According to reports, the company is increasing production to meet growing demands for its vehicles, and PSMC will continue to hold the greatest market share in Pakistan as long as it is the only manufacturer of a variety of small cars.