Copyright FOURIN, Inc. 2022
Pakistan’s Automobile Sales Results in YTD June 2021
Pakistan’s sales of locally-assembled automobiles in the first half of 2021 increased 2.3 times year-on-year to 104,000 units. The sharp rise is due to nationwide lockdown during the first six months of 2020 (from end of March until mid-May), which is the subject of comparison, triggered by the new coronavirus infection. Although sales have not returned to the pre-corona level of 2019 and before, the reduction of Federal Excise Duty on automobiles in July 2021 has significantly reduced prices which in turn is expected to boost demand.
Looking at the sales results in the first six months of 2021 by vehicle type, there was a significant increase in demand in all vehicle categories compared to the same period of the previous year. Meanwhile demand of most segments has yet to return to the pre-corona level of the first half of 2019. The only segment that increased compared to the same period of 2019 is the SUV segment.
Pakistan’s market-leader Suzuki increased sales 2.4-fold to 50,000 units followed by Toyota, up 2.2-fold to 31,000 units, and Honda, up 89.5% to 16,000 units. Hyundai, which started local CKD assembly in 2020, increased 12.1-fold to 4,026 units due to launching CKD assembly of the Elantra in 2021, which is Hyundai’s third locally-made model in Pakistan.