In 2023, there was an extraordinary rise in car prices, causing a significant drop in sales. The challenges in the automotive industry were further intensified by the temporary halt in car production by major players.
Let's examine the performance of the prominent car manufacturers – Toyota, Suzuki, and Honda – in the past year. It's important to note that the information is derived from data released by the Pakistan Automotive Manufacturer’s Association throughout 2023.
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Honda
Honda sold only 9,760 units in 2023 compared to 28,928 in 2022, witnessing a massive 66.26 percent decrease in its sales. The company sold 7,068 units of Honda City and Civic last year, a significant drop from 25,502 in 2022, marking a substantial 72.28% decline in sales.Similarly, Honda BRV and HRV sales also dropped by 21.42%, falling from 3,426 in 2022 to 2,692 in 2023.
| Model | Jan-Nov’22 | Jan-Nov’23 | Difference |
|---|---|---|---|
| Honda City & Civic | 25,502 | 7,068 | -72.28% |
| Honda BRV & HRV | 3,426 | 2,692 | -21.42% |
| Total | 28,928 | 9,760 | -66.26%
|
Suzuki
In total, Pak Suzuki Motor Company’s (PSMC) sales experienced a 69.24% decline, falling from 114,605 units in 2022 to just 35,253 in 2023. Here are the sales figures for each model in the previous year:
| Model | Jan-Nov’22 | Jan-Nov’23 | Difference |
|---|---|---|---|
| Suzuki Alto | 59,526 | 19,071 | -67.96% |
| Suzuki Cultus | 12,739 | 3,424 | -73.12% |
| Suzuki Wagon R | 14,399 | 3,085 | -78.57% |
| Suzuki Swift | 11,401 | 4,054 | -64.44% |
| Suzuki Bolan | 8,092 | 2,864 | -64.61% |
| Suzuki Ravi | 8,448 | 2,755 | -67.39% |
| Total | 114,605 | 35,253 | -69.24% |
Toyota Car Sales
Toyota’s sales declined by 62.81% in 2023 compared to 2022, selling 19,320 units. During the period from January to November 2023, the company sold 11,498 units of Toyota Corolla and Yaris. Additionally, Toyota Fortuner and Hilux sales also dropped by 45.52% to 7,822.| Model | Jan-Nov’22 | Jan-Nov’23 | Difference |
|---|---|---|---|
| Toyota Corolla & Yaris | 37,588 | 11,498 | -69.41% |
| Toyota Fortuner & Hilux | 14,357 | 7,822 | -45.52% |
| Total | 51,945 | 19,320 | -62.81% |
In comparison to Honda and Suzuki, Toyota’s sales were a little better.
Nevertheless, it's essential to note that the company was not entirely immune to the overall challenges faced by the automotive industry.
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