November car sales in Pakistan crash yet again, Delhi alone sold 4 times more

The tottering state of Pakistan automotive market crumbled some more in the month of November with an alarmingly low 4,875 cars sold, a decline of 68 per cent from sales in the same month of 2022. Data from Pakistan Automotive Manufacturers Association (PAMA) reveal that the country had seen 15,432 cars being sold in November of 2022.

File photo for representational purpose: Customers load their groceries in the boot of a car in Karachi, Pakistan. (Bloomberg)

Pakistan’s entire automotive industry has been shrinking with sales steadily falling across most segments. The car market in particular is bearing the brunt with manufacturers unable to find erstwhile demand. So it was in November too when the entire country failed to make much of the models available here. This was the same month when the Indian automotive industry – backed by festive spirit – saw 2.88 lakh car units being sold. Maruti Suzuki – India’s largest car maker – sold 1.34 lakh units on its own. The capital city of Delhi saw more than 80,000 new vehicles being registered and around 18,000 of these were cars alone.

A number of factors continue to pour water on plans for new car purchases. Car prices are a key factor and have seen a steady northward movement in recent times. Financing is also not helping matters much because auto financing rates have increased gradually. The country’s faltering economy and a general price rise has led to lower purchasing power of the common man.

As such, car manufacturers are wading through uncharted territory, one that has obstacles galore. Pak Suzuki, for instance, is bearing the biggest brunt with a 72 per cent year-on-year decline. Indus Motor Company Limited reported a 71 per cent decline while sales for Honda Atlas Car fell by 49 per cent.

PAMA data, however, reveals a minuscule glimmer of hope with tractor sales in the country in November rising on year-on-year basis although the numbers fell when compared to sales in October of this year.

First Published Date: 18 Dec 2023, 10:15 AM IST

Source link

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected

- Advertisement -spot_img

Latest Articles