KARACHI: The first month of fiscal year 2022-23 (1MFY23) for the entire auto industry began on a negative note, led by a 64.6 per cent drop in Jeep and pickup sales compared to July 2021, due to a significant slowdown in sales.
Massive price increases, tightening auto finance, longer Eidul Azha holidays, and suspension of bookings by two major assemblers reduced overall car sales to 10,377 units in July, down from 20,669 units in the 1MFY22.
However, according to Arif Habib Limited (AHL), the combined car, jeep and pickup sales had declined to a 23-month low of 11,883 units in July 2022, which was 58pc and 52pc lower month on month and year-on-year, respectively.
The highest drop in sales below 1,000cc was recorded in the Suzuki Bolan, with 353 units sold in 1MFY23 versus 950 units in July 2021, followed by a 24pc drop in Alto660cc sales to 4,618 from 6,110 units.
Suzuki WagonR sales fell 87pc to 282 units from 2,131 units in 1,000cc, while Cultus sales were down to 661 from 4,213 units, according to figures released by Pakistan Automotive Manufacturers Association (Pama).
The high-priced 1,300cc and above segment gave a mixed performance. The Toyota Corolla and Yaris faced a major drop of 65pc to 1,734 units from 5,020, while the Suzuki Swift posted a rise of 43pc to 321 from 225 units. Honda Civic and City sales increased by 43pc to 2,408 units from 1,700 units.
Overall truck sales stood at 330 units in July 2022 as compared to 551 in July 2021, in which Hino and Master sales came down to 58 and 35 units from 75 and 231 units. Isuzu’s sales stayed unchanged at 227 units.
Total Jeep and pickup sales were limited to 1,506 out of 4,250 units. Sales of the Toyota Fortuner and other high-powered vehicles stood at 641 units as compared to 1,695 units, while Hyundai Tucson sales crawled down to 104 from 175 units. Honda BR-V and Suzuki Ravi sales stood at 129 and 444 units as compared to 607 and 1,552 units, down by 79pc and 71pc, respectively. Hyundai Porter sales fell to 97 from 132 units in July of 2021. Sales of Fiat and Massey Ferguson tractors stood at 1,243 and 1,011 units, down by 12pc and 65pc, respectively. Total bus sales were 49 units, as compared to 50 units in July 2021.
According to Pama figures, overall two- and three-wheeler sales were recorded at 96,162 units in July as compared to 145,197 in the same month in 2021. Honda, Suzuki, and Yamaha sales stood at 80,067, 3,512, and 1,261 units in 1MFY23 versus 100,002, 2,715, and 1,607 units a year ago.
Published in Dawn, August 13th, 2022