We are well aware of the fact that the increase of regulatory duty on import has contributed in a record increase in sales of locally manufactured vehicles. Suzuki has taken the lead in the sales charts as its lower priced models registered massive sales.
Pakistan Automotive Manufacturers Association (PAMA) released a report in which it was written that 23,341 units were sold in October.During last year, in the same month, the number was only 15,988. An increase of 46% was seen as evaluated with the last year’s data.
The import tax subjected the lower engine capacity vehicles the most. As a consequence ,imports of these models were lessened by a great number. Suzuki took advantage the most from it as the company is recognized to manufacture such cars.
Year on year (YoY) sales of Suzuki went above the level as company record a boost of 53% in sales.
Mentioned below are the Suzuki models recorded promising sales:
- Wagon R increase of 141% YoY
- Mehran increase of 41% YoY
- Suzuki Cultus increase of 23% YoY
The tax was increased by up to 30% on both used and new vehicles. The government effectively managed to trim down vehicle imports. This step has given an advantage to the monopolistic local industry which saw an amplification of 32% in sales in first four months of current fiscal year.
Pak Suzuki preserved good sales as Honda and Toyota failed to catch up.Japanese Multinational Corporation has sold 46,941 until now in current fiscal year, 36% more as evaluated with the last year.
Honda’s monthly sales caught a rise as holidays last month arbitrated with the production of cars. A drop off of 36% month-over-month was seen in Honda’s sales.
On the other hand, Honda managed to sell 4,506 units in October. Still Honda’s sales rose by 55% (17,110 units sold) in the first four months of current fiscal year. All thanks to its popular new models City, Civic and BRV.
Toyota sprawled behind Suzuki and Honda as its productions were limited by capacity issues. Toyota Corolla sales rose by 10% since the start of this fiscal year.
Indus Motors recorded a boost of 28% evaluated with the last year, nevertheless, Toyota faced production issues last year too so 28% isn’t very inspiring.
Although yearly growth is sluggish ,Toyota still sells the most number of units in Pakistani market.