Pakistan logs only 6,200 car sales in Sept, even less than 2% of India’s tally

The Pakistani automotive industry faces challenges including declining demand, increased sticker prices, high taxes, and expensive auto financing.

Published on: Nov 15, 2023, 14:55:00 IST

By HT News Desk

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Car sales in neighbouring Pakistan continue to decline as only around 6,000 cars were sold in September.

According to Pakistan Automotive Manufacturers Association (PAMA) car sales data for October, only 6200 units were sold in Pakistan, down from September's 8400 units, HT Auto reported.

Even considering non-PAMA members, the total October figure of 7,000 sharply contrasts with 9,500 in September and 15,000 in October 2022.

The Pakistani automotive industry faces challenges like declining demand, increased sticker prices due to currency depreciation, high taxes and expensive auto financing.

PAMA records indicate a significant 44 per cent decline in sales for the first four months of fiscal year 2023-24, plummeting from 48,573 units to 27,163 units compared to the previous period. Major players like Atlas Honda, Pak Suzuki, Toyota, Hyundai, and Kia dominate the market, but local manufacturing is scarce.

Motorcycle sales, indicative of shrinking purchasing capacity, fell by 10 per cent in the initial four months of the fiscal year, contributing to the overall industry struggle.

What is automotive sales scenario in India?

• In September, automobile retail sales in India experienced a remarkable surge, exceeding 20 per cent, fuelled by heightened demand across vehicle segments during the festival season, according to Federation of Automobile Dealers Associations (FADA).

• Overall automobile registrations surged to 18,82,071 units, a substantial increase from 15,63,735 units in September 2022

• Passenger vehicle registrations reached 3,32,248 units, up from 2,79,137 units in September 2022, attributed to improved vehicle availability.

• Commercial vehicle registrations showed a 5 per cent year-on-year growth, totalling 80,804 units in the past month.

• Three-wheeler sales experienced a significant surge of 49 per cent, reaching 1,02,426 units in September, compared to 68,937 units in the same month of 2022.

The automotive landscape in Pakistan remains challenging across various segments, extending to two and three-wheelers as well as commercial vehicles, depicting a broader downturn in the market.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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