Car Sales Increased by 29% Over November 2020
According to data released by Pakistan Automotive Manufacturers Association (PAMA), locally assembled cars sold in Pakistan increased by 29 percent on a Year-on-Year (YoY) basis, with 18,714 units sold in November 2021 as compared to 14,533 units sold in November 2020.
About 21,024 units were sold in October 2021, which indicated an 11 percent decline in November 2021.
Do note that PAMA’s data does not include all the car companies operating in Pakistan.
Here’s how each company fared:
Pak-Suzuki Motor Company Limited secured the top spot as it sold the highest number of cars in Pakistan. It sold 8,522 vehicles in November 2021 as compared to 6,803 in November 2020, with a YoY increase of 25 percent. Conversely, 10,247 units were sold in October 2021, with a MoM decline of 17 percent.
Suzuki sold 5,092 units of the Alto in October 2021 but they dropped to 2,420 in November 2021, which resulted in an MoM decline of 52 percent. It sold 2,723 units of the car in November 2020 with a YoY decrease of 11 percent.
The sales of the Wagon R also surged, with 1,291 units being sold in November 2021, whereas the number of Wagon R units sold in November 2020 was only 882, which showed an MoM increase of 54 percent and a YoY increase of 126 percent.
Bolan’s sales also doubled from 549 units in November 2020 to 1,189 units sold in November 2021, with a YoY increase of 117 percent.
Toyota Indus Motor Company (IMC) sold 6,897 units in October 2021 and 6,315 in November 2021 against 4,942 units sold in November 2020, showing a YoY increase of 28 percent.
About 3,341 units of Corolla were sold in October 2021 versus 2,786 units in November 2021, with a MoM decline of 17 percent. Toyota sold 1,704 units of the Corolla in November 2021, with a YoY increase of 63 percent.
Sales for Yaris declined as 1,975 of its units were sold in November 2021 as compared to last year’s sales of 2,388 units in the same month, resulting in a YoY decline of 16 percent. However, 2,037 of its units were sold in October this year.
Honda sold 3,010 cars overall in November 2021, up from 2,237 in the same period last year, indicating a YoY increase of 35 percent.
Its most popular models were Civic and City with 2,771 units sold in November 2021 as compared to 2,088 units sold in November 2020, showing a YoY growth of 33 percent.
Only seven BR-V units were sold in October 2021. However, the number of sold units surged to 239 in November 2021, recording a massive MoM increase of 3314 percent. Honda also sold 149 units of the BR-V in November 2020, observing a 60 percent YoY increase.
Hyundai sold 748 units in November 2021 and 1,064 units in the previous month, which factored in a MoM decline of 30 percent. However, it sold 472 units in November 2020 resulting in a YoY increase of 56 percent.
The YoY report for all Hyundai’s cars is not currently available, including for the Elantra. As per the available reports, 244 units of the Elantra were sold in November 2021 as compared to 312 units in the previous month, showing a MoM decline of 22 percent.
According to the report by Topline Securities, Pakistan’s car sales, including those by non-Pakistan Automotive Manufacturers Association (PAMA) members, were recorded at 23,900 units in November 2021, indicating a YoY growth of 29 percent. However, car sales by the PAMA members were down by 11 percent to 18,714 units on an MoM basis.
Topline Securities has attributed this to rising financing rates and requirements by the State Bank of Pakistan.