Pakistani Vehicles Sales grew 6.9% in 2018 with a second consecutive year of gain, breaking the quarter-million threshold, ending at 264.442. Suzuki kept the lead of the market with over 50% of market share, while JAC joined the battlefield.
Pakistani economy has had a mixed start to FY 2019, which began in July. In November, the Central Bank’s foreign exchange reserves were broadly steady after falling significantly in the preceding months. For its part, the large current account deficit narrowed slightly in July–October from the same period a year earlier, primarily due to higher remittances. These inflows helped outweigh a sharp rise in the merchandise import bill caused by higher oil prices.
A slowdown is expected this fiscal year as the country grapples with economic imbalances, remittances growth slows, and the government negotiates with the IMF for financial support.
Pakistani vehicles market in recent years has reacted promptly to the 2013 fall with sales improved from 140.732 (2013) to a record of 226.141 (2015) before to decline at 208.998 in the 2016. According to data released by the Pakistani Automotive Manufacturers Association, in the 2017 the market was sustained by a robust internal demand and hit the new all time record at 247.330 (+18.3%).
In the 2018 the market kept momentum improving from last year. Indeed, sales registered an increase by 6.9%, keeping the positive trend of recent years, ending with 264.442 units sold. Moreover, this is the first time the Pakistani market crosses the quarter-million annual sales.
After fluctuating during the recent years, the market hit the all-time record last year and is seen to be growing during the 2019-2025 period of time. However, Pakistani growth is seen slowing this fiscal year, as Pakistan grapples with economic imbalances and remittance growth likely moderates.
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The great news of recent month – in a market dominated by few brands – is the landing of a new player, the first Chinese maker able to open a local plant, JAC Motors, which started producing and selling the commercial pick up, X200. The JAC arrival is just the first of a series as others carmakers are planning to start-up local operations. The next will be Renault in the 2019.
As far as the current competitive scenario, the 2018 ranking is dominated by Suzuki which sold 140.311 vehicles (+8.9%) with a market share of 53.10%.
Behind Toyota with 65.557 (+6.5%) and Honda with 48.972 (+3.2%).
As far as the 2018 best-selling models, the Toyota Corolla is the market leader with 54.037 sales (+3.5%), followed by the Suzuki Mehran actually second with 42.046 (-2.2%). In third place the Suzuki Wagon R with 31.619 (+30.4%).
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.