Car sales in Pakistan continue to pick momentum after the disastrous FY2019-20 which saw 53% reduction in sales due to depreciating currency, added duties & taxes, rising car prices and the COVID-19 impact.
Sales are expected to increase in coming months due to lower interest rates & ease in auto financing backed by the restoration of economic activities. According to the data released by PAMA (Pakistan Automobiles Manufacturers Association), Suzuki Alto 660cc although suffering from a 40% reduction in sales compared to the same quarter of previous year, stood as the highest selling car with 7,651 units sold in July-September 2020.
The second bestselling car in the charts is the newly launched Toyota Yaris which witnessed sales of 6,009 units followed by Toyota Corolla with 3,614 units sold in the first quarter of FY2020-21. Corolla has stayed as the bestselling car in Pakistan for more than a decade but the discontinuation of 1.3L variants in favor of Yaris was bound to affect its sales.
Honda Atlas which is shy to disclose individual sales stats of Civic and City and is the only automaker to present combined figures of two entirely different cars, saw 6.843 units (combined) of its duo leaving the showroom floors. The only other model to see its sales gone past 3,000 units mark (averaging 1,000 units a month) during the quarter was Suzuki Cultus with 3,263 units sold. The rest of the lot posted sales figures averaging less than thousand units a month.
South Korean automaker Kia, which is not part of PAMA is also doing well in terms of sales. According to analysts the automaker is witnessing sales around 1,500 units a month however we don’t have an exact sales data of Kia Sportage and Picanto.
Forthcoming months are expected to bring good news for auto consumers of Pakistan as government and local auto industry will reportedly sit together to review the prices of local assembled vehicles in December 2020. And since Pak Rupee is gradually gaining its strength back and stands at a 5-month high against the US-Dollar, car prices if reduced should bring a much positive impact on sales of locally assembled vehicles.