Pakistan car sales: The number of cars sold in Pakistan in 2023 will surprise you! In the midst of intense global competition, as prominent companies consistently introduce new vehicle models and customers worldwide eagerly adopt the latest cars, Pakistan’s automotive industry is confronted with challenges, presenting a stark contrast to the thriving global car sales.
In 2023, car sales numbers in Pakistan plummeted to historic lows. The primary reasons behind this decline in sales include higher vehicle prices and decreased affordability among consumers, attributed to the country’s deteriorating economic conditions.
According to the Pakistan Automotive Manufacturers Association (PAMA) data, a total of 30,662 cars were sold during the entire 2023 in the country. Of these numbers, nearly 50 percent cars sold were in 1000cc segment.
In the previous year, around 69,000 cars were sold in Pakistan.
Pakistan economy continues to slide
The performance of the automobile industry is one of the key indicators that suggests how well or poorly a country’s economy is doing.
Pakistan’s economy has long been saddled with a heavy debt burden. The country has got 23rd bailout from the International Monetary Fund since gaining independence in 1947. Additionally, the country has sought financial assistance from allies like China, Saudi Arabia, and the United Arab Emirates.
Pakistan Election Results 2024: Shehbaz Sharif, the President of the Pakistan Muslim League-Nawaz (PML-N) and former Prime Minister, secured National and Provincial Assembly seats in Lahore, As reported by ARY News on Friday, citing the Election Commission of Pakistan. The parliamentary elections in Pakistan concluded at 5 pm on Thursday amid escalating militant attacks and allegations of electoral misconduct, sparking concerns about the vote’s integrity and the potential formation of a coalition government due to profound political divisions.
