Islamabad, 14 February 2023 (GNP): 10,867 units were sold, a 31-month low, in January 2023 as a result of a partial suspension of small car production due to restricted parts imports and an increase in price following a sharp depreciation of the rupee. Despite all odds, high-end car sales increased noticeably in January compared to the previous month.
In January 2023, compared to the same month in the previous year, sales of automobiles (cars, light commercial vehicles, vans, and jeeps) decreased by over half, to 10,867 units, according to research houses quoting statistics from the Pakistan Automotive Manufacturers Association (PAMA). Compared to December 2022, the preceding month under examination, sales decreased by 37%.
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Auto sales decreased overall by 40% to 94,296 units in the first seven months (July-January) of the current fiscal year, down from 156,586 units in the same period the year before.
Sources point out reasons for this drastic drop in sales are primarily due to the escalating car prices, expensive auto financing, and the falling purchasing power of consumers.
