Pak Suzuki Motor Company, a prominent player in the automobile industry, has encountered a significant setback as its Suzuki Alto sales witnessed an unprecedented decline of 79 percent from January to July 2023.
According to data sourced from the industry, a mere 9,205 units of Suzuki Alto found buyers in the initial seven months of this calendar year. This is a striking disparity compared to the robust 43,428 units sold during the corresponding period last year.
In a recent study conducted by Arif Habib Research, it was unveiled that the present month alone saw sales of Suzuki Alto plummet to just 1,440 units, marking a 25 percent decrease in comparison to the previous month’s sale of 1,913 units.
Several factors are believed to have fueled this downward spiral in car sales. The persistent scarcity of imported raw materials, emanating from prior import constraints imposed by regulatory authorities, has substantially stifled production capacities.
Furthermore, the escalating tide of inflation has cast a shadow on consumer demand for automobiles. The prevailing high interest rate of 23 percent has also exacerbated the situation, creating hurdles for potential buyers seeking financing options for Suzuki Alto.
The automotive landscape in Pakistan is undergoing a critical phase, with Pak Suzuki grappling to navigate through these challenges and striving to regain its market momentum.
