Challenging Start for Fiscal Year 2023-24 as Motorcycle and Three-Wheeler Sales Decline

Pakistan’s automotive industry has faced a challenging start to the fiscal year 2023-24, with motorcycle and three-wheeler sales witnessing a significant decline during the initial two months. Data from the Pakistan Automobile Manufacturing Association (PAMA) paints a sobering picture, with an 18.56 percent decrease in sales compared to the corresponding period in the previous fiscal year. Let’s delve into the numbers and explore the factors contributing to this decline.

Sales Figures for July and August 2023-24:

Between July and August 2023-24, a total of 161,906 motorcycles and three-wheelers were sold, down from 198,824 units during the same period in the previous fiscal year. This decline raises concerns about the economic landscape and consumer preferences in the country.

Breakdown of Motorcycle Sales:

• Honda:

Sales of Honda motorcycles saw a notable decrease of 16.96 percent, dropping from 165,090 units to 137,083 units. This reduction in Honda’s sales figures is indicative of the broader trend in the market.

• Suzuki:

Suzuki motorcycles experienced a substantial decline of 61.54 percent, with sales plummeting from 6,967 units to 2,679 units. This sharp drop in Suzuki sales is among the most significant contributors to the overall decline.

• Yamaha:

Yamaha motorcycle sales also faced a downturn, declining by 35.02 percent, from 2,501 units to 1,625 units. This decrease highlights the challenges faced by multiple motorcycle manufacturers.

• Road Prince:

Road Prince motorcycle sales took a hit, decreasing by 55.80 percent, falling from 6,105 units to 2,698 units. This substantial reduction signifies a challenging period for the brand.

• United Auto:

United Auto Motorcycles experienced a modest decline of 2.83 percent, with sales going from 15,264 units to 14,832 units. While the decrease is less pronounced, it still contributes to the overall industry trend.

Three-Wheeler Sales:

• United Auto: United Auto’s three-wheeler sales decreased from 460 units to 85 units, marking a significant decline in this category.
• Qingqi: In contrast, Qingqi three-wheeler sales witnessed a slight increase of 3.36 percent, rising from 891 units to 921 units.
• Sazgar: The most notable growth in three-wheeler sales was recorded by Sazgar, with an impressive 85.18 percent increase, from 999 units to 1,850 units.

Our Verdict: 

The decline in motorcycle and three-wheeler sales during the initial two months of fiscal year 2023-24 reflects several challenges facing the automotive industry in Pakistan. Factors such as economic uncertainties, changing consumer preferences, and fluctuations in fuel prices may have contributed to this downturn. As the fiscal year progresses, industry stakeholders will closely monitor these trends and explore strategies to rejuvenate the market and meet the evolving needs of Pakistani consumers.

Reference link:-

Motorcycle and Three-Wheeler Sales Decline by 18.56% during July-August 2023

Fahad Anwar

Fahad, a dynamic entrepreneur and fervent marketing enthusiast, channels his passion for contemporary trends into captivating written pieces. Beyond the business realm, he finds solace in the exhilaration of travel and the strategic thrill of tennis during leisure moments. Connect with Fahad’s insights on trending topics via his Twitter handle @fahad164. For inquiries and collaboration opportunities, reach out to him at fahad164@gmail.com or fahad@themediaparadigm.com.