Rising Prices Of 1,000 cc Vehicles Have Dealt A Major Blow To Automobile Industry
During the month of January, a total of 20,610 cars were sold by different companies
Rising taxes and a tougher auto-finance policy have begun to have a negative impact, leading to a significant drop in sales of vehicles at 1,000 cc and below, according to the report.
During the month of January, a total of 20,610 cars were sold by different companies, which is 25% less than the previous month of 27,331 in December 2021, but still 18% more than a year ago in January 2021. According to Pakistan Auto Manufacturers Association, Pakistan Suzuki sold a total of 9,037 vehicles, including 3,864 Alto cars and 1,537 Wagon Rs, 1172 Cultus cars, 956 Bolan and 1508 Ravi. While the sales of Suzuki Swift car remained zero.
Sales of all Indus model cars stood at 6,797, including 5,528 sales of the Toyota Corolla Yaris, the highest sales of any vehicle last month. The City Civic’s car sales were 3,646 while the total sales of all Hyundai Nishat models were 612.
During the current financial year, there was a significant increase in vehicle sales, which can be estimated from the fact that during the seven months from July 2021 to January 2022 of the current financial year, the total sales of cars of all companies was one lakh 56. 586 which is 61% more than 7 months of the previous financial year.
Figures from January 2022 show that sales have begun to decline due to government policies, with sales of 1300 cc and above models declining by only 5% in January, which is extremely high. The rate is lower while sales of 1000cc vehicles have dropped significantly by 37% and sales of vehicles below that by 53%, which means that the middle class is more affected by government policies. The measures did not have much effect.