How many cars were sold in Pakistan in 2023? Figures likely to shock you
- Sales of cars in Pakistan in 2023 were half of figures from 2022.
The Pakistani automotive market had a forgettable 2023 with sales plunging to historic lows. In particular, sales of passenger vehicles crashed owing to factors such as high purchase price, lower affordability and overall struggle of the economy. Most manufacturers have seen sales tumble across segments such as above 1,300 cc, between 1,000 cc and 1,300 cc and below 1,000 cc models.
As per the latest data from Pakistan Automotive Manufacturers Association (PAMA), a cumulative total of 30,662 cars were sold in the country through the course of 2023. The maximum traction was witnessed in the below 1,000 cc segment with 14,584 units of such vehicles sold in all of 2023. Models like Suzuki Bolan (Omni van) and Alto fared the strongest here. In the 1,000 cc segment, Suzuki once again fared best of the lot with models like Cultus (Celerio) and WagonR faring best. In all, 3,737 units in the segment were sold last year. And in the plus 1,300 cc segment, 12,341 units were sold with the likes of Honda City and Civic, Suzuki Swift and Toyota Corolla and Yaris faring strong.
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These numbers, across segments, were nearly half of corresponding sales figures from 2022. In all, 68,912 units of cars were sold in the country in 2022 vis-a-vis 30,662 in 2023. Sales of even popular car models, some mentioned above, have crashed.
Factors impacting Pakistan car sales
While the entire automotive industry in Pakistan struggles, the car market has taken the bulk of the hit. Steadily increasing car prices, repeated production schedule suspensions as well as crashing value of the local currency have had a deep impact on sales. Financing has also not come to the rescue with interest rates touching new highs. As such, companies like Pak Suzuki, Indus Motor Company and Honda Atlas Car are some of the big names to have taken a big hit.