Pakistan's Automotive Industry is showing signs of Recovery

As the automakers simplify their production and inventory management in accordance with the State Bank of Pakistan's (SBP) auto-sector import conditions, the trend of declining automobile sales has been partly reversed.

According to the most recent figures from the Pakistan Automotive Manufacturers Association (PAMA), automakers (association members only) sold 13,369 automobiles in total in October 2022, a rise of 21% month over month but a decline of 36% year over year.

3,374 vehicles were sold by Toyota Indus Motor Company (IMC), representing a 29% MoM increase in sales. Pak Suzuki Motor Company (PSMC) sold 8,003 automobiles, recording a strong 33% MoM recovery in sales, compared to Honda Atlas Cars Limited (HACL), which sold just 1,425 cars with an 11% MoM drop.

Only 486 units were sold in September by Hyundai Nishat Motors Private Limited (HNMPL), a 50% MoM reduction in sales. The best-selling product for the firm was Tucson once more.

Honda Civic and City sales decreased from 10,444 from July to October 2021 to 4,416 from July to October 2022. Toyota Corolla and Yaris sales also plunged dramatically, from 19,214 to 8,253 vehicles.

Additionally, sales of the Suzuki Cultus and WagonR decreased from 11,454 and 6,779 respectively in the same period last year to 2,952 and 2,181 this year.

The Suzuki Bolan and Alto sales decreased from 1,469 to 13,464 units last year to 4,012 and 20,773 units from July to October 2022, while sales of jeeps and pickup trucks fell by 45% from 14,969 to 8,234 units over the same time period.

Passenger Vehicle Sales
Passenger Vehicles	Units Sold in September 2022	Units Sold in October 2022	Month-on-Month % Difference
PSMC
Cultus	751	1,129	50%
Alto	2,372	4,181	76%
Wagon R	766	768	0%
Bolan	609	180	-54%
Swift	1,263	`1,350	7%
Toyota IMC
Corolla	1,000 Approx.	1,838	3%
Yaris	800 Approx.	1,838	3%
Fortuner	Under 250	1,536	84%
Hilux	610 Approx.	1,536	84%
Honda Atlas
Civic	240 Approx.	1,371	14%
City	960 Approx.	1,371	14%
BR-V	79	54	-32%
Hyundai Nishat
Tucson	375	201	-46%
Elantra	320	135	-58%
Sonata	151	77	-49%

SBP Import Easing:

Sales and output both increased in October, indicating a slight improvement. This is due to the fact that since the State Bank of Pakistan (SBP) increased import limits, automobile assemblers have been allowed to supply vehicles. As a result, auto manufacturers could transport their parts from the port.

As automakers continue to step up the pace, sales are anticipated to increase even more.

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