Honda Atlas Cars Pakistan, a prominent figure in the automotive sector, is grappling with a significant setback as its well-liked models, the Honda Civic and Honda City, witnessed an unprecedented 79 percent drop in sales from January to July 2023.
In accordance with industry statistics, a mere 4,125 units of the Honda Civic and Honda City were sold during the initial seven months of this year.
This starkly contrasts with the robust performance of the same period in the previous year, which recorded a noteworthy 19,985 units sold.
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The analysis conducted by Arif Habib Research brings to light that sales for both the Honda Civic and Honda City in the ongoing month have dwindled to a modest 208 units, marking an 8 percent decrease when compared to the preceding month’s sales of 227 units.
This downward trend in car sales can be attributed to various factors. The persisting scarcity of imported raw materials, resultant from prior import constraints imposed by regulatory bodies, has significantly hindered production capacities.
Furthermore, the escalating wave of inflation has subdued the consumer’s appetite for automobiles. This, coupled with a steep interest rate of 23 percent, has posed considerable challenges for potential buyers who are in search of viable financing options for the Honda Civic and Honda City.
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In the face of these challenges within the Pakistani automotive landscape, Honda Atlas Cars Pakistan is actively navigating these hurdles with determination, aiming to reclaim its lost market momentum.
