In March 2024, sales of new light vehicles produced in Pakistan were flat year-on-year. Sales increased by 0.3% y/y to 9,379 units, still below 10,000 units. In March 2023, sales decreased by 65.6% compared to the same period in 2022. Last month's sales figures suggest that Pakistan's new car market is still not recovering. On a year-on-year basis, it increased by 14% year-on-year. Sales for January-March 2024 are 29,624 units. The main point is that the above figures in the same level are not Gaokao Kia, Changan and MG, etc., and Chery's does not share sales data.
The best sellers are still the three Japanese brands Suzuki, Honda and Toyota. But there has been a change in the rankings. Suzuki was in first place with an absolute advantage, but its performance was disappointing. The year-on-year decline of 20.2% exceeded that of the previous one. However, Suzuki still has a 43.7% market share with 4,101 units sold.
Honda is doing well. With sales of 2,188 units, it successfully surpassed its big brother Toyota and ranked second. The year-on-year increase was 162%, and the sales volume more than doubled compared with the same period last year.
Toyota's performance was sluggish. It fell by 10.8% year-on-year, a decline of more than 1%. With 1,705 units sold, it failed to retain its runner-up position. The ranking dropped 1 notch to third place. Suzuki, Honda and Toyota contracts control 85.2% of the market share. accounted for more than 8 percent, and the performance was still strong.
Hyundai is the best-selling non-Japanese brand. However, it fell by 4.1% year-on-year, and the performance failed to reach the average. Haval is growing positively. A year-on-year increase of 403%, an increase of more than four times. With sales of 503 units, it ranked fifth. JAC is also doing well. The year-on-year increase was 233.3%, an increase of more than 2 times. However, sales were only 70 units, which did not exceed the triple digits.
Among the top 10 models, Suzuki and Toyota each accounted for three. Honda has two seats. The remaining two positions are divided between Haval and Hyundai. Although the Haval H5 fell out of the top five, it still ranked high. With sales of 503 units, it ranked fifth. The year-on-year increase was 45.4%, and the growth rate slowed down.
The Hyundai compact SUV Tucson is in tenth place. The ranking is down one level from February. Sales volume was 250 units, down 34.2% year-on-year. The decline was severe.
Two models have sold more than 1,000 models. The best-selling model is still Suzuki's Alto. The sales volume was 2,922 units, a year-on-year increase of 14.9%. Suzuki WagonR and Cultus also made it into the top 10. However, they fell by 24.9% and 36.4% respectively, and the sales performance was not good.
The Honda model performed well. The Civic and Fengfan are in second and third place, respectively. Sales increased by more than two times. They increased by 226.7% and 225.9%, respectively.
Toyota's overall performance was not good, and the ranking of popular models also fell. Among the 10 best models to sell, Toyota accounts for three. The amount is the same as in February. Corolla increased by 13.9% year-on-year, with sales of 696 units. The ranking fell 2 notches to fourth place. Toyota Yaris increased by 6.5% year-on-year, with sales of 541 units. The ranking also dropped two notches to fifth. The Corolla Sharp has risen in the rankings. With sales of 310 units, it ranked eighth. Climb up 2 levels in the rankings.