Pakistan’s auto industry reportedly had another slump in sales as the Pakistan Automotive Manufacturer’s Association’s (PAMA) data for June 2021 showed that the sales had dipped for the third consecutive time last month.
According to the data, the auto industry sold 13,750 vehicles in June that had resulted in a Month-on-Month (MoM) decrease of 12 percent as compared to May but enjoyed had an increase of 57 percent on a Year-on-Year (YoY) basis.
The report detailed that the Toyota Indus Motor Company (IMC) had sold 4,535 units in June and had recorded an MoM sales decrease of only three percent. Honda Atlas Cars had sold an impressive 3,305 units in the previous month and had recorded an MoM sales increase of 65 percent, while the Pak-Suzuki Motor Company (PSMC) witnessed a massive MoM sales decline of 39 percent as it had sold only 5,106 units last month.
Hyundai Nishat had recorded an MoM sales decrease of just five percent for the sale of 604 units last month, which is slightly less than the 637 units that it had sold during May.
Since Kia Lucky Motors, Master Changan Motors, Regal Motors, MG JW SEZ, Al-Haj Proton, and other new entrants are not yet members of the PAMA, their monthly sales figures are unavailable for public review.
Here is how some of the popular vehicles did in terms of sales in June 2021 as compared to the previous month:
|Passenger Vehicle Sales|
|Passenger Cars||Units Sold in May 2021||Units Sold in June 2021|
|City & Civic||1,581||2,826|
The PAMA report showed that the PSMC did not have any hindrances in the production of its vehicles but its sales have suffered regardless.
Additionally, despite the 5th generation City having gradually been phased out, Honda Atlas has had record-high sales during the last month.
Toyota IMC had a situation similar to May 2021 in terms of sales, with the exception of the Yaris having being sold in much fewer numbers than usual in June.
This month is likely to be a different story because the automakers have decreased the prices of their vehicles after the enactment of the 2021 budget and the new auto policy, allowing tax and duty concessions to local car assemblers.
This price decrease is likely to result in a lot of vehicle bookings by customers, be it the general public or fleet buyers.