- Alto from Pak Suzuki is the most popular model in Pakistan.
There was some degree of cheer in February for the Pakistan car industry after months of despair with sales in the month jumping by 57 per cent vis-a-vis the same month in 2023. But while the upward trajectory is a positive sign, the total figure of 9,709 units is still lower than performances in times gone by.
The latest data from the Pakistan Automotive Manufacturers Association (PAMA) reveals that most automakers in the country managed to fare better in February than they did in recent months. One key factor which helped was the increase in demand for affordable models, especially from brands like Pak Suzuki. Interestingly, Alto fared the best among all passenger vehicles in the country, helping the company increase its sales to 3,373 units. This was a jump of 520 per cent for Pak Suzuki in February compared to its sales figures in February of 2023.
Several other companies also managed to have a slight smile. Indus Motor Company or IMC sells Toyota vehicles in the country and reported a 13 per cent Y-o-Y increase in sales – at 2,036 units.
The dwindling fortunes of Pak automotive industry
The vehicle market in Pakistan has been going through its roughest patch ever. As per a report in the Business Recorder, a Pakistan-based financial daily newspaper, there has been a decline of 41 per cent in sales of cars in the first eight months of fiscal year 2024 when 59,699 units were sold. Factors such as increasing car prices, expensive financing options and an overall decline in purchase power of citizens are the main reasons working against sentiments.
The unfair comparison between Pakistan and India
Even as the Pakistani automotive industry goes into a freefall, the Indian auto market is booming to unprecedented highs. The country is now the third-largest vehicle market, after just China and the United States.
India saw over 3.70 lakh car units being sold in the month of February when Pakistan managed to sell 9,709 units. Maruti Suzuki WagonR alone found 19,412 takers in the month, more than double of all cars sold in Pakistan last month. Tata Punch was placed second with 18,438 units sold while the Baleno (17,517 units) was the third best performer.
First Published Date: 15 Mar 2024, 09:42 AM IST
