Pakistan’s car sales plummet even more in November; Lower than 5,000 units sold in a month

The automobile sectors in Pakistan were known to remain to be in a trembling position in November. According to the news from the Pakistan Automotive Manufacturers Association (PAMA) reported by HT Auto, there was a count of 4,860 cars purchased in November 2023. Also, at a similar period previous year data shows a record of 15,423 cars were delivered in the same month in Pakistan, the record added.

The fall in the rate of automobile sales in Pakistan is due to the circumstances of factors, adding up the rate of cars in the same point of view. Pakistan was falling under a deep eco crisis and upscale in the rates of cars had caused the fall in the rate of buying power of the individual. Therefore, the Pakistani automotive sector faces a lot of difficulties in downturn demand, higher sticker rates during the money depreciation, high level of taxes, and making the auto financing unit too expensive.

Also, Suzuki recorded a 63% downturn in sales year-on-year, Indus Motor Company Limited added their stage of decline over 74% while Honda Atlas Car sales turned down by a rate of 45% YoY.

With the decline in car sales, several automakers halted production in their respective plants in Pakistan including Toyota, Suzuki, and Honda last month.

Between July and October 2023, a total of 20,871 cars were sold in Pakistan. The sales of motorcycles and three-wheelers saw a dip too.

Besides at the same time, in India, Maruti Suzuki India recorded a 3.50% hike in the sum of valued sales at 1,64,546 units in November 2023 individually. Toyota Kirloskar Motor recorded a sales count of a 55% hike in sales at 17,907 units the previous month. Inside country sales data of the previous month were at 16,933 units in the domestic segments zone, while exports stand by a hike of 982 units.

Furthermore, sales of motorcycles producers displayed their car’s spare parts in November in India. Retail sales of bikes and scooters in India saw a hike last month of around 22%, data from the Federation of Automobile Dealers Association (FADA) displayed.