Honda and Hyundai Gain Market Share as Toyota and Pak Suzuki Suffer Sales Drop
The Pakistan Automotive Manufacturer’s Association (PAMA) has announced the sales data for August 2021, according to which, the car industry has witnessed a slight decrease in sales.Advertisement
As per last month’s data, Pak Suzuki Motor Company (PSMC), Toyota Indus Motor Company (IMC), Honda Atlas Cars Limited (HACL), and Hyundai Nishat Motors have sold an aggregate of 21,751 vehicles in August, resulting in a Month on Month (MoM) decrease of 13 percent and a Year on Year (YoY) increase of 87 percent in sales.
In August 2021, Toyota IMC sold 5,639 units, witnessing an MoM decrease of 16 percent and a YoY increase of 71 percent in car sales. PSMC sold 12,062 units, observing an MoM decrease of 21 percent and a YoY increase of 101 percent in vehicle sales.
HACL, in contrast, having sold 3,230 units of its vehicles in August, has recorded an increase in sales, observing an MoM increase of 40 percent and a YoY decrease of 43 percent. Hyundai Nishat witnessed yet another increase in sales for the second consecutive month, by selling 712 units of its vehicles last month, recording an MoM increase of 53 percent and a YoY increase of 547 percent.
The following are the sales figures of some of the most popular vehicles for the previous month:
|Passenger Vehicle Sales|
|Passenger Vehicles||Units Sold in July 2021||Units Sold in August 2021||Month on Month %age Difference|
|City & Civic||1,700||2,726||60%|
The automotive industry around the world is currently reeling due to various supply chain issues, as well as raw material and semi-conductor shortages. Curiously, though, the Pakistani car industry seems to be performing quite well amidst these issues, as the vehicle sales have only gone down ever so slightly in August of 2021.
It would be interesting to see, however, if the vehicle sales remain strong in the coming days as the aforementioned concerns continue to inhibit vehicle sales across the globe.