Tag: automakers

  • Toyota IMC records worst sales in three years, selling less than 2,000 cars in February

    Toyota IMC records worst sales in three years, selling less than 2,000 cars in February

    Toyota Indus Motor Company (IMC), a leading automaker renowned for offering the country’s best-selling sedan, has reported a significant decline in sales in February 2023, marking the worst sales month since the onset of the Covid-19 pandemic.

    Having previously sold over 7,100 units in March 2022, the company’s sales have now plummeted to a meager 1,803 vehicles in February 2023, according to Autojournal.

    It is pertinent to note that this represents the lowest sales figures for Toyota in the past three years, since the outbreak of the Covid-19 pandemic and subsequent lockdowns.

    Toyota is not the only company experiencing this phenomenon, as Pak Suzuki Motor Company has also reported a massive decline in sales, selling only 544 units in February 2023, despite having sold over 6,000 units of Suzuki Alto in a single month previously.

    Pakistan’s auto industry is currently facing significant challenges due to production halts, resulting from a lack of availability of auto parts and restrictions on imports.

    As a result, car manufacturers are facing difficulties in meeting consumer demands, leading to decreased sales figures for many companies, including Toyota and Suzuki.

  • Hyundai Sonata 2.5 will now cost Rs7.85 million

    Hyundai Sonata 2.5 will now cost Rs7.85 million

    Like the majority of automakers in Pakistan, Hyundai Nishat has joined the price hike bandwagon by raising the price of its sedan offerings; the Elantra GLS, Sonata 2.0, and Sonata 2.5 variants, due to increased shipping costs and continuous depreciation of the local currency.

    The premium category sedan, Hyundai Sonata 2.0 witnessed an increase of Rs140,000 in its earlier rate of Rs6,859,000. After the price hike, the car costs Rs6,999,000. Hyundai Sonata’s top trim will now be sold at Rs7,849,000 after a price increase of Rs100,000 in its previous price of Rs7,749,000.

    Hyundai Elantra GLS after getting a price of Rs150,000 will be offered at Rs4,949,000, the exact model was previously sold at Rs4,799,000.

    Read more: Pakistani rupee crashes to historic low of Rs194 against US dollar

    Almost every local or imported sedan is now out of reach of the masses as the auto industry has been massively affected by the ongoing devaluation of the Pakistani currency against the US dollar, increased freight charges along with the premium culture (own trend) in the country.