Pakistan Suzuki Motor Company’s (PSMC) sales sank for the 2nd time this fiscal year, primarily because of inadequate inventory and government-imposed restrictions on imports, and the growing inflation in the country.
According to a reliable source autojournal, Pak Suzuki sold less than a 1000 units in Feb. This has been the worst performance ever by any automaker since the covid19 pandemic lockdown back in April 2022, which the company witnessed sales depth to almost zero.
The report alludes that the shutdown in production and the scarcity of completely knocked down CKD kits is the primary reason that contributed to abrupt decline in the sales. The automakers have also cast aspersions and widely blamed the SBP ( State Bank of Pakistan) reluctance to timely process and approve letters of credit ( LCs) for the clearance of imported goods and inventory.
The report indicates that Pak Suzuki sold about 2,940 cars; the company witnessed an immense decline of 74% in their monthly sales. This huge fall in sales was primarily caused by Suzuki Alto, which slipped from 6,868 units in December 2022 to merely 44 units in Jan 2023.
We will make further assessment about the Pak Suzuki Sales for the month of Feb, when the data arrives from Pakistan Automotive Manufacturer(PAMA).
