A massive drop in car sales between July and October 2022

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A massive drop in car sales between July and October 2022
A massive drop in car sales between July and October 2022

Due to inflation, auto finance restrictions, and high interest rates, car sales decreased 47% from 74,952 to 39,700 between July and October 2022.

There were 9,213 car sales in September and 11,129 in October, still over half of the 17,413 sales in October 2021.

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A slight increase in October sales and production shows that things are improving. In response, the State Bank of Pakistan (SBP) has raised import quotas, enabling assemblers to deliver cars. Car companies were able to get their auto parts out this way.

A massive drop in car sales between July and October 2022

The Civic and City sold 10,444 units in July-October 2021, but 4,416 units in July-October 2022. Also, Toyota Corolla and Yaris sales declined from 19,214 to 8,253.

Suzuki Cultus and WagonR sales fell from 11,454 and 6,779 last year to 2,952 and 2,181. In July-October 2022, Suzuki Bolan and Alto sales were 1,469 and 13,464 respectively, compared to 4,012 and 20,773, whereas Jeep and pickup sales plummeted by 45% from 14,969 in July-October 2021 to 8,234 in 2022.

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Additionally, tractor sales dropped by 47% from 17,386 units to 9,258 units, indicating a slump in agriculture. In the same period last year, trucks and buses sold 2,011 and 184 units, respectively.

A massive drop in car sales between July and October 2022

Two-wheeler sales fell from 629,212 units in the previous fiscal year to 412,111 units in the first four months of this year.

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