India’s automobile market is the third largest in the world. Car sales are so high that India didn’t have to gain special momentum to overtake Japan, which was number three so far. That’s why various companies are showing interest in starting business targeting the market of this country. This time, Tesla, the world’s largest electric car maker, is going to lead the way. Soon, the company of billionaire Elon Musk is going to build its own factory in this country. Meanwhile, neighboring country Pakistan is in poor condition in terms of car sales. The data released by Pakistan Automotive Manufacturers Association (PAMA), the country’s dealers’ body, is eye-opening.
The company said that only 6,034 cars were sold in the country last month i.e. June. Sales are up 10% from May, but sales are down 82% from June last year. According to PAMA, 1,26,879 units of vehicles were sold in Pakistan in the financial year 2022-23. As a result of this dire situation in sales, the deficit has gone up to 56%. Experts believe that this collapse in sales will continue even in the future.
Lack of locally manufactured parts has been a major hurdle in selling cars in Pakistan. As a result, the decline in car sales cannot be stopped. Again, due to the increase in the percentage of financing, many people are not treading that path. Due to which the ability of buyers to buy cars is decreasing. Which has a direct impact on sales. Meanwhile, Pakistan’s economy is still in turmoil. As a result, automobile companies are under pressure. Many companies have announced a temporary halt to car production in the country.
How many cars did a company sell?
According to figures released by PAMA, Pak Suzuki sold only 3,009 units of new cars last month. Meanwhile, Toyota’s cars are assembled and sold by Indus Motor Company. They sold only 1,846 vehicles last month. Meanwhile, Hyundai Nishat Motors saw an 11 percent rise in the Tucson SUV’s popularity last month. So seeing the sales statistics, almost all the companies are looking at the vermilion cloud.
