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Sales of Japanese automobiles plunge – Business

KARACHI: In contrast to an impressive performance by a Korean vehicle assembler, the production and sales of Japanese cars, jeeps, vans and pickups posted negative growth in 2MFY23 due to high non-production days (NPDs) on account of non-availability of parts, escalating prices and interest rates, monsoon rains and flash floods.

Car production shrank to 9,602 units in August from 14,417 units in July followed by a drop in sales to 8,980 units from 10,378 units in the above period, showed data released by Pakistan Automotive Manufacturers Association (PAMA).

The overall production and sales of cars in 2MFY23 plunged to 24,019 and 19,358 units from 32,720 and 38,568 units in the same period last fiscal year, showing a drop of 26.6pc and 49.8pc respectively.

Toyota Yaris and Corolla production fell to 2,216 units in August from 2,566 units in July but sales surged to 2,901 from 1,734 units. The overall production and sales in 2MFY23 came down to 4,782 and 4,635 units from 7,982 and 8,987 units in the same period last fiscal year.

Honda Civic/City production and sales remained depressed at 1,482 and 1,436 units in August from 2,387 and 2,408 units in July, thus causing an overall drop in production and sales to 3,869 and 3,844 units in 2MFY23 from 4,449 and 4,426 in the same period last fiscal year.

The newly introduced model of Suzuki Swift survived the scare of an overall slowdown in the auto sector by recording production and sales of 1,955 and 853 units in July-August FY23 from 382 and 379 units in the same period last year.

Hyundai Elantra also recorded higher production and sales of 741 and 581 units in 2MFY23 as compared to 386 and 415 units in the same period last year. Hyundai Sonata produced and sold 409 and 234 units in the last two months as compared to 377 and 305 units in 2MFY22.

A massive drop was registered in production and sales of Suzuki Cultus to 1,721 and 1,072 units in the last two months from 5,958 and 7,058 units in 2MFY22, while WagonR production and sales witnessed a huge drop to 2,463 and 647 units from 3,147 and 3,810 units.

Bolan production and sales stood at 1,192 and 580 units as compared to 1,592 and 2,047 units in July-August FY22.

Suzuki Alto660cc production and sales were 6,885 and 6,911 versus 8,445 and 11,141 units.

Production and sales of Toyota jeeps and pickups fell to 1,889 and 1,616 in July-August FY23 from 2,438 and 3,367.

Hyundai Tucson production and sales in two months remained brisk at 1,861 and 1,089 as compared to 323 and 367 units. Honda BR-V production and sales declined to 657 and 502 units from 1,074 and 1,111 in 2MFY22.

A total of 1,420 and 570 units of Suzuki Ravi were produced and sold in the last two months from 2,616 and 2,808 units in the same period last fiscal. Hyundai Porter production and sales soared to 460 and 226 from 252 units each.

According to Arif Habib Limited (AHL), the sale of cars, jeeps and vans had fallen to a 26-month low of 11,600 units during August 2022. AHL recalled that sales had declined to a 23-month low of 11,883 units in July 2022, which was 58pc and 52pc lower month on month and year-on-year, respectively.

Published in Dawn, September 14th, 2022

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