KARACHI: Sales of passenger cars fell 44 percent in December from a year earlier, industry data showed on Wednesday, a sign that import constraints are weighing on the country’s weak consumption.
According to data released by the Pakistan Automotive Manufacturers Association (PAMA), passenger car sales declined to 13,768 units in December 2022, from 24,471 units recorded in December 2021.
Sales to PAMA members fell 11 percent in December 2022, compared to 15,432 units sold in November 2022, while six-month passenger car sales fell 40 percent.
“Car sales in Pakistan (including sales to non-PAMA members) reached around 18,000 units, down 8% month-on-month due to non-availability of CKD [completely knocked-out] parts amid LC issues. – days of production,” Topline Securities said in a report.
It added that a year-end trend where consumers usually delay their purchases until the new year led to a decline in month-on-month (MoM).
According to the latest data released by the association, sales of cars, trucks, buses, tractors, pickups and three-wheelers, as well as other types of two-wheelers, declined, except for Suzuki’s Swift and Jeeps. Was seen. December 2022, compared to the same period last year, the data showed.
A total of 68,900 units were sold in the first five months of FY2023, which is 40% lower than the 114,774 units sold during the same period in 2022.
In December 2022 alone, sales of 1300cc and above cars were recorded at 4,477 units, down 55 percent from 9,964 units sold in the same period last year.
Similarly, 1,000cc cars recorded sales of 1,929 units (Suzuki Cults 1,057 units and Suzuki Wagon RK 872 units) as against 4,272 units in the same month last year.
The sub-1,000cc vehicles sold 7,362 units, down 28 percent from 10,235 units last year. Suzuki’s new Alto, which saw remarkable sales of 7,255 units in November 2022, also declined to 6,898 units in December 2022, as against 9,195 units in December 2021.
Buses and trucks saw a decline of 286 units in December 2022, as against 335 units in December 2021.
Sales of Jeeps and Pickups increased to 3,216 units from 2,870 units sold during the same period last year due to growth in the Haul and Chery Tagoo categories.
However, this was largely due to a sharp increase in sales of Honda BR-V and HR-V to 1,098 units, as against 303 units during the same period in 2021.
Sales of tractors declined to 1,015 units from 4,476 units in December 2021.
Sales of rickshaws and motorcycles declined to 103,899 units in December 22 from 142,412 units in the same period last year.
On a year-on-year basis, weaker demand dynamics were reflected in a 38% decline in sales (including PAMA members) in December 2022, which also led to a 38% decline in the first half year-on-year. FY23, mainly attributed to rising car prices, expensive auto financing, and low consumer purchasing power.
Honda Cars reported a 5% MoM growth to 2,079 units in Dec-2022, while Indus Motors reported a 13% MoM decline to 2,823 units in Dec-2022 due to non-productive days. Hyundai’s sales grew 37% MoM, while Tuscon grew 67% MoM and Elantra grew 41% MoM.
Pak Suzuki reported an 8% MoM decline at 11,342 units.
