Pakistan car sales struggled to cross 5,000 mark in November; India sold more cars in less than half-a-day

The automotive industry in Pakistan is struggling, with car sales plummeting in November 2023. According to the Pakistan Automotive Manufacturers Association (PAMA), only 4,875 cars were sold in that month, a significant drop from the 15,432 cars sold in the same period the previous year.

According to a report by HT Auto, several factors are contributing to this decline, including the country’s economic crisis and rising car prices, which have reduced the average person’s buying power. The industry is grappling with falling demand, inflated prices due to currency depreciation, high taxes, and costly auto financing.

Major automakers like Pak Suzuki, Indus Motor Company Limited, and Honda Atlas Car have reported sales declines of 72%, 71%, and 49% respectively, year-on-year. The slump in sales has led several car manufacturers, including Toyota, Suzuki, and Honda, to halt production in their Pakistan plants last month.

From July to October 2023, a total of 20,871 cars were sold in Pakistan. Sales of motorcycles and three-wheelers also dipped, with about 1.01 lakh units sold in October, compared to 1.14 lakh units in the same month last year. Sales of vans, jeeps, and LCVs were at 1,330 during this period.

In stark contrast, India’s automotive industry is thriving. Maruti Suzuki India reported a 3.39 per cent increase in total sales at 1,64,439 units in November 2023. Toyota Kirloskar Motor also saw a 51 per cent growth in sales at 17,818 units last month. Domestic sales were at 16,924 units, while exports stood at 894 units. In the month of November, around 3.60 lakh units were sold in India. India managed to sell more cars than Pakistan in less than half-a-day.  

Furthermore, two-wheeler makers in India outperformed their four-wheeler counterparts in November. Retail sales of two-wheelers jumped 21% in November, according to data from the Federation of Automobile Dealers Association (FADA).

Read more: 18% on-year growth in November auto sales; Maruti Suzuki top PV seller, shows FADA data

Also read: Auto sales reached new milestone in 42-day festive period; 37.93 lakh vehicles sold: FADA