The economic crisis and import restrictions have had a significant impact on Pakistan’s auto industry, which has resulted in a sharp decline in car sales. According to the most recent data from the Pakistan Automotive Manufacturers Association (PAMA), only 5,290 vehicles were sold in May 2023, a 77% decline from the same month the previous year.
Even though sales were up 19% from the previous month, this decline is still significant. Pak Suzuki Motor Company (PSMC), one of the automakers, saw a slight increase in sales, whereas Toyota Indus Motor Company (IMC), saw a slight decline.
Conversely, sales of the Honda Atlas and Hyundai Nishat were significantly down. Surprisingly, the Toyota Hilux pickup truck performed remarkably well and, with 605 units sold in May 2023, rose to become Pakistan’s third best-selling vehicle despite its high price of over Rs. 10 million.
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