Bike Sales Down Again as Honda, Yamaha, and Suzuki Take a Hit. It has been a year since the implementation of import restrictions on automobiles, and the consequences are becoming increasingly evident. Since May 2022, the automotive industry has witnessed a steady decline in production, sales, and revenue, leading to a complete halt in its expansion.
According to data provided by the Pakistan Automotive Manufacturers’ Association (PAMA), bike sales have experienced a significant drop of 15% in June 2023 compared to the previous month. Atlas Honda, one of the prominent players, sold 75,056 bikes, which represents a 14% decrease month over month (MoM).
Pak Suzuki faced a substantial decline in motorcycle sales, with only 363 units sold in June, a staggering 56% decrease compared to May 2023. Similarly, Yamaha witnessed a dip in sales, selling 942 motorcycles in June, reflecting a 15% decline from the previous month. Even Chinese motorcycle sales experienced a slump of up to 22% compared to the preceding month.
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The data does not explicitly mention the reason behind this reduction in sales. However, industry analysts speculate that the import restrictions and the subsequent production disruptions are likely impacting bike manufacturers. Furthermore, some industry watchdogs believe that the inflated prices of motorcycles could also be a contributing factor. Although there are market rumors suggesting that imports have been restored for the auto sector, it is expected that sales will remain weak for the foreseeable future as the industry slowly recovers from the economic and operational challenges it has faced.