Yamaha, Suzuki, and Honda Sales Down Again!
Since last year, Pakistan’s automobile industry is in hot waters. The major hit is taken by the motorcycle industry as it is considered to be the convenience of the common man. As the prices started to climb, sales started to fall. Yamaha, Suzuki, and Honda sales are down again, here is what we know so far.
As per the report of the Pakistan Automobile Manufacturers Association (PAMA), motorcycle sales have declined by 15% as compared to last month. The market leader Atlas Honda has managed to sell 75,056 units and their sales are down by 14% as compared to last month. The situation of Yamaha and Suzuki is even worst. Yamaha managed to sell 942 motorcycles only which is 14% down as compared to May 23. Suzuki however is in a dire state of help. Pak Suzuki has only sold 360 motorcycles and its sales are 56% down as compared to May 23.
Though the data is not showing any issues or claims why the sales are down the reason is very evident. The main reason behind this is un questioned and still increasing price tags. Due to inflation, the manufacturers kept on increasing their prices to stabilize their profits. Unlike other economies where manufacturers will introduce other facilities like buy now pay later or 0% markup installment schemes. This resulted in a temporary increase in profits but now it is a decline from this point.
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Motorcycle sales are also dependent on many other aspects like the availability of purchasing schemes, buy now, or trade-in offers. These offers are seen all across the globe but not in Pakistan. Only some manufacturers use these as marketing tools once in a blue moon. Unlike other countries, such offers are a huge part of generating new sales as compared to Pakistan or other underdeveloped economies.
