Pakistan Car Sales in 2023 Extremely Down

2023 was a bad year for the Pakistani automotive market and sales reached an all-time low. Passenger vehicle sales declined due to reasons such as high car prices, customers’ inability to afford them and the downturn in the economy. Most companies have seen a decline in sales of cars above 1,300cc, between 1000cc to 1300cc and below 1,000cc.

car sales in pakistan

Pakistan According to new data from the Petroleum Automotive Manufacturers Association (PAMA), a total of 30,662 cars were sold in the country during 2023. The segment below 1,000cc saw maximum sales, with 14,584 cars sold during the year 2023. Models like Suzuki Bolan and Alto were the most preferred here. In the 1,000cc segment, models like Suzuki Cultus and Wagon registered the highest sales.

Last year, a total of 3,737 units were sold in this segment. In the 1,300cc segment Honda Cars like City, Honda Civic, Suzuki Swift, Toyota Corolla and Toyota Yaris sold 12,341 units. These sales across all segments were almost half of the cars sold in 2022. Overall, 68,912 units of cars were sold in the country in 2022, while only 30,662 units were sold in 2023. Even the sales of popular car models fell drastically.

Why did car sales fall?

The entire automotive industry in Pakistan is going through a period of struggle during this time, but the car market has suffered the most. The ever-rising prices of cars, frequent production shutdowns as well as the falling value of the local currency have had a profound impact on sales. Interest rates are at their highest level, due to which finance schemes are also not working. SuzukiCompanies like Indus Motor Company and Honda Atlas Car have suffered a major setback.