Suzuki Ravi recorded an impressive 57% YoY increase, while the Alto also performed well with a 23% YoY rise. Corolla, Yaris, and Corolla Cross sales saw a 79% YoY increase, largely driven by heightened demand for the new Yaris model and boosted promotional sales of the Corolla Cross.
As per the Pakistan Automotive Manufacturers Association (PAMA), vehicle deals in Pakistan expanded in September 2024, arriving at 10,297 units. This addresses a significant increment of 24% YoY and 18% MoM between September and August of the year before.
The buildup of Suzuki vehicles being conveyed was the essential driver of this increment. Pakistan Auto Industry Car deals expanded 31% to 27,585 units in the main quarter of the financial year 2025 (1QFY25) from 20,982 units sold in a similar period the earlier year (1QFY24). With a 174% increase to 827 units, Sazgar Engineering Works Limited (SAZEW) saw the most year-over-year development among producers. However, Haval’s exhibition was a main consideration in its deals dropping 13% month over month.
Among makers, Sazgar Engineering Works Limited (SAZEW) encountered the main year-on-year increase, with a 174% ascent to 827 units. However, its deals dropped 13% monthly mostly because of Havel’s exhibition.
Pakistan Suzuki Motors Company (PSMC) saw a significant 37% MoM increase, with a 5,013 unit complete for September 2024, reflecting an 18% YoY development. The Suzuki Ravi recorded a great 57% YoY and 58-crease MoM increase, while the Alto also performed well with a 23% YoY and 56% MoM rise.
Indus Motor Company (INDU) posted a 48% YoY and 11% MoM increase, selling 2,369 units. Meanwhile, Honda Atlas Cars (HCAR) sold 1,269 units, denoting a 5% YoY decline but an 11% MoM rise. Corolla, Yaris, and Corolla Cross deals saw a 79% YoY and 20% MoM increase, to a great extent driven by the uplifted interest for the new Yaris model and supported special deals of the Corolla Cross.
Sazgar Engineering’s three-wheeler sales also saw a significant increment, multiplying YoY and rising 32% MoM, adding up to 2,168 units in September.
Conversely, the tractor industry faced a downturn. Millat Tractors (MTL) saw its deals plunge 76% YoY and 39% MoM to 743 units, while Al Ghazi Work Tractors (AGTL) encountered an 86% YoY and 77% MoM decline, with 333 units sold. Overall, farm hauler deals for the month remained at 1,076 units, down 80% YoY and 60% MoM largely because of the expanded deals charge, which rose from 10% to 18%.
Truck and bus deals, however, expanded, arriving at 319 units in September 2024, mirroring a 74% YoY and 6% MoM rise.
Here are a few key variables adding to this unexpected increase:
1. Economic conditions and inflation adjustments:
• The auto area in Pakistan has been grappling with difficulties like high expansion, depreciation of the Pakistani rupee, and expanded interest rates. Despite these variables, interest in reasonable vehicles like the Suzuki Alto and the Suzuki Ravi has shown versatility. This proposes that purchasers are deciding on these models because of their relative affordability and lower maintenance costs.
2. Interest for Commercial Vehicles:
• The rise in sales of the Suzuki Ravi, a famous decision for private companies, demonstrates expansion in the business vehicle section. With the economy’s partial revival post-pandemic, small enterprises might be extending their tasks, prompting a lift in deals of light business vehicles.
3. Shift toward Reasonable Cars:
• The Suzuki Alto’s remaining parts are a well-known choice for first-time vehicle purchasers and those searching for eco-friendly and budget-friendly choices. Amid high fuel costs, the more modest motor size and lower running costs make it an alluring decision.
4. Toyota Corolla and Yaris Demand:
• Despite the greater cost bracket, the Toyota Corolla and Yaris have seen consistent interest, possibly because they stood for dependability and durability. In monetary vulnerability, customers might be inclined towards brands and models with a strong resale value and track history.
5. Government Policies and Import Limitations:
The Pakistani government’s restrictions on vehicle imports to protect foreign exchange reserves have limited the accessibility of imported vehicles. This has moved the consumer focus towards privately collected models like those from Suzuki and Toyota, consequently supporting the sales surge.