Pakistani automotive market The year 2023 was a forgettable one and sales reached a historic low. In particular, passenger vehicle sales declined due to factors such as higher purchase prices, lower affordability and the overall struggle of the economy. Most manufacturers launched models above 1,300 cc, between 1,000 cc to 1,300 cc and below 1,000 cc. There has been a decline in sales.
Sales halved in 2023 compared to 2022
According to the latest data from Pakistan Automotive Manufacturers Association (PAMA), a total of 30,662 cars were sold in the country during 2023. The sub-1,000cc segment saw maximum sales, with 14,584 such vehicles sold. Throughout 2023. Models like Suzuki Bolan (Omni Van) and Alto performed the strongest here. In the 1,000cc segment, Suzuki once again performed best with models like Cultus (Celerio) and WagonR. Last year, a total of 3,737 units were sold in this segment. And in the plus 1,300cc segment, 12,341 units were sold with strong cars like Honda City and Civic, Suzuki Swift and Toyota Corolla and Yaris.
68,912 units of cars sold in Pakistan in 2022
These numbers, across all segments, were almost half of the respective sales figures for 2022. Overall, 68,912 units of cars were sold in the country in 2022, while 30,662 units were sold in 2023. Even sales of popular car models, some mentioned above, have crashed.
Factors affecting Pakistan car sales
While the entire automotive industry in Pakistan is struggling, the car market has suffered the most. The continuously rising prices of cars, repeated suspension of production schedules as well as the falling value of the local currency have had a deep impact on sales. With interest rates touching new highs, financing has also not come to the rescue. For example, companies like Pak Suzuki, Indus Motor Company and Honda Atlas Car are some of the big names which have suffered a major blow.