Islamabad September 11 2023: As per the latest data shared by Pakistan Automotive Manufacturers Association (PAMA), car sales increased by 60 percent to 5,909 units during the month of August 2023 when compared with previous month.
Car sales improved due to withdrawal of restrictions by central bank on imports despite lower purchasing power of consumers and record high interest rates.
However, car sales are still down 34.1 percent in August when compared to sales during the same month last year.
Honda managed to sell 492 units of Civic and City combined in August 2023, marking a remarkable 137 percent increase compared to their sales in July of the same year. However, the sales of the BRV model in August were less impressive, with Honda selling only 182 units, representing a 36 percent decline when compared to the previous month's sales. Despite this decrease in BRV sales, Honda's overall car sales still saw a substantial month-on-month increase of 36 percent, totaling 674 units.
Among Pak Suzuki's variants, the Suzuki Swift experienced the most substantial sales growth, surging by 103 percent on a month-to-month basis, with 506 units sold in August compared to 249 units in the previous month. In a similar vein, Suzuki Alto sales also saw a robust increase of 92 percent month-on-month, reaching 2,769 units in August, compared to the 1,440 units sold in the prior month. Additionally, sales of both the Cultus and Wagon R models witnessed noteworthy gains, rising by 72 percent and 47 percent, respectively, in August 2023, resulting in 305 units of Cultus and 349 units of Wagon R sold during the month. However, sales of the Ravi model experienced a decline, dropping by 13 percent on a month-to-month basis to a total of 163 units sold in August 2023.
The combined sales of Corolla and Yaris showed a moderate increase of 5 percent from the previous month, reaching a total of 1,119 units in August 2023. Additionally, the sales of Fortuner and Hilux experienced a substantial 43 percent month-on-month growth, resulting in a total of 429 units sold during the same month. As a whole, Indus Motor Company saw a notable increase in overall sales, with a 13 percent month-on-month rise, totaling 1,548 units.
In August 2023, Tucson sales saw a significant uptick, increasing by 42 percent, with a total of 465 units sold, compared to the sales figure of July 2023. Hyundai also had a noteworthy month, selling 120 units of the Porter model in August 2023, marking a substantial 69 percent increase in sales compared to the previous month.
As a result of these positive trends, Hyundai experienced an overall sales boost of 37 percent month-on-month, reaching a total of 778 units in August 2023.
Sazgar sold 290 units and 8 units of Haval and BAIC compares with sales of 13 and 122 units of Haval BAIC in July 2023.