In yet another setback for Pakistan’s automotive sector, the country witnessed a significant decline in passenger vehicle sales, with only 4,875 units sold in November. This marks a staggering 68% decrease compared to the 15,432 units sold in the same month last year, as reported by the Pakistan Automotive Manufacturers Association (PAMA).
Several factors contribute to the challenges faced by Pakistan’s automotive industry, including rising input costs, overall inflation, declining demand due to economic struggles, currency depreciation, and the imposition of high taxes on vehicle purchases.
In stark contrast, Indian carmakers managed to surpass this figure in less than half a day, selling over 3.6 lakh units in the passenger vehicle segment in November. This achievement translates to more than 500 cars sold per hour across the country, as per data released by FADA.
The struggling state of Pakistan’s car market raises concerns about its future in comparison to India’s thriving automotive industry. Despite ongoing challenges, global manufacturers like Tesla, BYD, and GWM are exploring opportunities in India, while some manufacturers are closing operations in Pakistan.