Pakistan Records Lowest-Ever Car Sales In 2023, Only 30,662 Passenger Vehicles Sold As Economic Crisis Looms

Pakistan’s automobile industry has witnessed the lowest sales ever in 2023, as passenger vehicles sales were majorly impacted because of cars being too expensive for many people to afford as Pakistan’s economy has recently been plummeting. Sales declined for most manufacturers in all car segments, including models with engine sizes above 1,300 cc, between 1,000 cc and 1,300 cc and below 1,000 cc.

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According to data from the Pakistan Automotive Manufacturers Association (PAMA), a total of 30,662 cars were sold in the country throughout 2023. The most significant sales were seen in the segment for cars with engine sizes below 1,000 cc, with 14,584 units sold. Models like the Suzuki Bolan (Omni van) and Alto performed exceptionally well in this category. In the 1,000 cc segment, Suzuki led the pack once again with models like the Cultus (Celerio) and WagonR being the top performers with a total of 3,737 units sold last year. In the segment for cars with engine sizes over 1,300 cc, 12,341 units were sold, with strong performances from models like the Honda City, Honda Civic, Suzuki Swift, Toyota Corolla and Toyota Yaris.

The sales figures across all segments were nearly halved compared to the sales figure from 2022. In total, 68,912 car units were sold in Pakistan in 2022, while only 30,662 were sold in 2023. This decline in sales affected even popular car models leading to a significant decrease in overall sales.

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The passenger vehicle segment in Pakistan has been hit the hardest amidst the struggles of the entire automotive industry. Rising car prices, frequent production suspensions and the depreciation of the local currency have significantly impacted sales. Consequently, major companies like Pak Suzuki, Indus Motor Company and Honda Atlas Car have suffered considerable losses.