Indus Motor Company Ltd’s Post

In Pakistan, the ongoing economic crisis and import restrictions have severely impacted the car industry, leading to a significant decline in sales. According to the latest data from the Pakistan Automotive Manufacturers Association (PAMA), carmakers, limited to association members, only managed to sell 5,290 cars in May 2023. This represents a month-on-month increase of 19% but a substantial year-on-year decrease of 77%. While Pak Suzuki Motor Company (PSMC) experienced a slight sales recovery, Toyota Indus Motor Company (IMC) faced a modest decline. However, Honda Atlas and Hyundai Nishat suffered significant sales declines. Surprisingly, despite its high price of over Rs. 10 million, the Toyota Hilux pickup truck emerged as a standout performer, securing the position of Pakistan's third best-selling vehicle in May 2023, with 605 units sold.

Toyota started car assembly in Pakistan in 1990, 33 years has passed. As per Pakistan EDB rules (an authority that looks after car assembly) by 2010 Toyota should be manufacturing 85-90 percent car components locally. However hardly 60% deletion done for Toyota Corolla. This is unlawful & not expected from an international brand. They are not helping Pakistan economy. In fact Toyota is causing flow of $$ outside to import 60-70 % components and only assemble Fortuner/ SUVs for elites of Pakistan.

Indus Motor Company (IMC), the assembler of Toyota vehicles in Pakistan, has announced the discontinuation of the Toyota Yaris 1.3 CVT AERO variant. The decision comes as allocations for this variant have lapsed in the allocation system. The AERO variant, introduced with exterior upgrades last year, experienced low sales despite its initial launch price of Rs. 5,199,000. While IMC has not provided a specific reason for discontinuation, low sales are speculated to be the primary cause. Toyota's recent sales report revealed a 26% decline, prompting production shutdowns earlier in the month. IMC is expected to update dealerships regarding existing orders of the discontinued variant. #BroadcastRepublic #ToyotaYaris #IndusMotorCompany #Pakistan #SalesDecline #ProductionShutdown #PAMA #AutomotiveNews 🌐 Read More: Broadcastrepublic.com

Car companies have sustained heavy blows to their sales and revenues due to ongoing inflation and slowed production. As a result, several are downsizing operations to manage expenses and ensure their well-being. Car companies have sustained heavy blows to their sales and revenues due to ongoing inflation and slowed production. As a result, several are downsizing operations to manage expenses and ensure their well-being. Recently, Lucky Motor Corporation Limited (LMCL) publicly announced the shutdown of four dealerships across Pakistan. The official press release did not highlight a reason for the shutdown. The following dealerships have been closed: KIA Motors Hanna Lake, Quetta KIA Motors Chenab, Gujrat KIA Motors Avenue, Dera Ghazi Khan KIA Motors Gateway, Mardan Kia’s momentum has declined significantly compared to the last two years due to ongoing economic issues. The company was mentioned among Pakistan’s biggest carmakers in terms of market share up until mid-2022. But now, it is barely selling cars in the hundreds. The company’s sales saw a minor increase in June, but not enough to make a difference. Although it is understandable as, under the current circumstances, all automakers in Pakistan are walking on wafer-thin ice. #Mondayminds #KiaMoters #Kiapakistan #Cars #Carnews #Carcompanies #LMCL 

🚗 Car Sales Decline in Pakistan 📉 The ongoing economic crisis and import restrictions have hit the car industry hard, resulting in a significant sales decline. In May 2023, carmakers managed to sell only 5,290 cars, marking a 77% YoY decrease. While some manufacturers saw slight recoveries, others faced notable declines. Surprisingly, the Toyota Hilux pickup truck emerged as the third best-selling vehicle, with 605 units sold. #PakistanCarIndustry #SalesDecline

Follow 👉 Techup Pakistan Pakistan is facing a long-lasting economic crisis and has put restrictions on imports, which has led to a big decline in the car industry. In June 2023, carmakers who are members of the Pakistan Automotive Manufacturers Association (PAMA) sold 6,034 vehicles. While this shows a 10% increase from the previous month, it also indicates a huge 79% drop compared to the same time last year. Surprisingly, the Toyota Hilux pickup truck has become very popular in Pakistan, even though it is expensive. In June 2023, Toyota sold 573 units of the Hilux, making it the third best-selling vehicle in the country for the second month in a row. This is impressive because the Hilux’s starting price is over Rs. 10 million, showing that there is strong demand for this luxury vehicle despite the difficult economic situation.