Pak Suzuki Motor Company (PSMC) has recorded its lowest sales figures for the second time this year due to various factors including insufficient inventory and import restrictions.
According to a recent report by a trusted automotive journal, PSMC sold fewer than 1,000 units in February. This is the worst performance by the automaker since nationwide COVID-19 lockdowns in April 2020, which resulted in a complete halt in production and sales.
The report cites a shortage of completely knocked down (CKD) kits and intermittent production shutdowns as the main reasons for the decline in sales. PSMC has also pointed out the reluctance of the State Bank of Pakistan (SBP) to approve letters of credit (LCs) for the clearance of imported goods as a contributing factor.
In January, PSMC observed a massive decline in monthly sales with only 2,940 cars sold, a 74% drop compared to the previous month. This was largely due to poor sales of the Suzuki Alto, which went from 6,898 units in December 2022 to just 44 units in January 2023.
It is expected that February’s sales figures will also be in the high tens or low hundreds, although official figures from the Pakistan Automotive Manufacturer Association (PAMA) are yet to be released.
