Significant decline in sales of vehicles of one thousand cc and below due to increase in taxes, strict auto finance policy

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The increase in taxes and the negative effects of strict auto finance policy began to emerge, which led to a significant decline in sales of vehicles of one thousand cc and below. According to the report, a total of 20,610 cars of different companies were sold during January last year, which is 25% less than the previous month of 27,331 in December 2021 but a year ago compared to January 2021. I still have 18% more.

According to the Pakistan Auto Manufacturers Association, Pakistan Suzuki sold a total of 9,037 vehicles, including 3,864 Alto cars and 1,537 Wagon Rs, 1172 Cultus vehicles, 956 Bolan and 1508 Ravi. Swift car sales were zero.

Sales of all models of Indus Company cars stood at 6,797, with sales of the Corolla Yaris recorded at 5,528, the highest sales of any vehicle last month.

Sales of Fortuner Helix of the same company stood at 1269 while sales of Honda car City Civic stood at 3,646 while total sales of all models of Hyundai Nishat stood at 612. The current financial year saw a significant increase in vehicle sales It can be estimated that during the seven months from July 2021 to January 2022 of the current financial year, the total car sales of all the companies stood at 156,586 which is 61% more than the 7 months of the previous financial year. Is too much

Figures from January 2022 show that sales have begun to decline due to government policies, with sales of 1300 cc and above models declining by only 5% in January, which is extremely high. The rate is lower while sales of 1000cc vehicles have dropped significantly by 37% and sales of vehicles below that by 53%, which means that the middle class is more affected by government policies. The measures did not have much effect.

Location: Pakistan

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