In Pakistan, the car industry has been greatly affected by the economic crisis and restrictions on imports, causing a sharp drop in car sales. The latest information from the Pakistan Automotive Manufacturers Association (PAMA) shows that only 5,290 cars were sold in May 2023, which is a 77% decrease compared to the same period last year.
Although there was a 19% increase in sales compared to the previous month, this decline is still significant. Among the car manufacturers, Pak Suzuki Motor Company (PSMC) saw a small improvement in sales, while Toyota Indus Motor Company (IMC) experienced a slight decrease.
On the other hand, Honda Atlas and Hyundai Nishat faced substantial declines in sales. Surprisingly, despite its high price of over Rs. 10 million, the Toyota Hilux pickup truck performed exceptionally well and became Pakistan’s third best-selling vehicle in May 2023, with 605 units sold.
