Car sales plunge by 50% YoY in July

August 12, 2022 (MLN): The passenger car sales witnessed a massive decline of 50% YoY in the first month of FY23 i.e., July 2022, clocking in at 10,377 units, when compared to 20,669 units recorded in the same month last fiscal year due to higher interest rates, measures taken by the regulators to curb auto imports and cost-led price hikes, the latest data from the Pakistan Automotive Manufacturers Association (PAMA) showed on Friday.

The total production of passenger cars was recorded at 14,417 units in July 2022.

Going by the details made available by PAMA, the 'below 1000 cc' category took a lead as auto sales stood at 4,971 units in July 2022, showing a decline of 30% YoY as opposed to 7,060 units in July 2021. Segment-wise, Suzuki Alto saw the highest sales at 4,618 units, followed by Suzuki Bolan with 353 units sold in the said month.

The second-highest number of sales was made within the '1300 cc and above' category, standing at 4,463 units, down by 39% YoY.  Within this category, Honda Cars (Civic and City) registered sales of 2,408 units, followed by Toyota Corolla and Yaris with 1,734 units. Suzuki Swift recorded sales at 321 units in July 2022. Surprisingly, no units of Hyundai Elantra and Sonata were sold, leaving adequate inventory levels at the end of July 2022.

The ‘1000cc' category took the third spot as the units sold in July 2022 were only 943. the volumetric sales dropped sharply by 56% YoY. Within this category, Suzuki Cultus recorded the highest sales at 661 units, followed by Suzuki WagonR which sold 282 units.

Meanwhile, the sales of trucks were recorded at 234 units in July 2022, registering a decline of 57.5% YoY. Isuzu emerged as the best-selling truck, with sales of around 131 units during the month, followed by HINO with 58 units. MASTER and JAC made sales of 35 units and 10 units, respectively.

The sale of buses saw a drop of 20% YoY to 40 units. Within this segment, HINO made the maximum sales at 23 units while Master and Isuzu recorded sales of 13 and 4 units, respectively.

According to the data, LCVs, Vans, and Jeeps observed sales of 1,470 units, down by 65.4%  during the period under review.

Overall, 2/3 wheeler sales were recorded at 96,162 units in July 2022 as compared to 145,197 units in the same month in 2021, down by 34% YoY.

Category-wise, Honda, Suzuki, and Yamaha sales dropped by 20%, 29%, 22%, YoY, to 80,067, 3,512, and 1,261 units respectively in the said month.

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