Fastest-Growing Businesses in Pakistan
The automobile sector is one of the fastest-growing businesses in Pakistan, accounting for 3% of GDP and employing more than 3.5 million people. Pakistan’s annual automobile manufacturing capacity will rise to 300,000.
Pakistan ranks 35th in the world for automobile manufacturing and provides around Rs50 billion ($310 million) to the national treasury. Pakistan’s automobile market is one of the smallest in Asia, although it is expanding at an extremely rapid rate.
Pakistan Vehicle Manufacturers Association
The statistics issued by the Pakistan Vehicle Manufacturers Association (PAMA) indicates that Pakistan’s automobile sector has returned significantly from last year’s economic downturn.
In March 2021, automobile sales grew by 197% year-over-year. Today, as a result of the complete recovery of economic activity, automotive demand is at an all-time high. However, certain types of autos are more in demand than others.
1. Suzuki Alto
Recent statistics indicate that the Suzuki Alto will be the most popular vehicle in Pakistan in 2022. This is due to a multitude of factors, the most important of which are the Alto’s price and dependability on the entry-level market. With a starting price of Rs. 1,475,000 and a top-of-the-line option costing Rs. 1,951,000, the Alto provides an excellent value proposition.
The Suzuki Alto has been one of the most popular automobiles in Pakistan for a number of years, and it appears that this trend will continue in 2022. The primary reason for Alto’s appeal is its low price, which makes it an excellent alternative for thrifty shoppers. The Alto is also recognized for its dependability, an important factor for many Pakistani automobile purchasers. In June 2022, Pak Suzuki had its highest-ever sales, selling over 16000 automobiles.
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2. Toyota Yaris
In 2020, Toyota IMC debuted the subcompact automobile Toyota Yaris to the Pakistani market. This vehicle’s sales immediately overtook those of the Honda Civic and Honda City, which had been Pakistan’s best-selling automobiles for a long period. This is an impressive accomplishment for a fresh startup.
The Toyota Yaris has a number of characteristics that distinguish it from its competitors. It boasts a more powerful engine, improved fuel economy, and a superior interior. In addition, the Toyota Yaris is less expensive than its competitors, giving it an excellent bargain. This sedan boasts a high-quality interior, an appealing design, contemporary features, standard safety systems, parking sensors, hill-start aid, a good fuel economy, and is ideal for extended journeys. All of these attributes make this automobile the second-best in 2022.
3. Toyota Corolla
Corolla is one of the best-selling automobiles in Pakistan. Due to the introduction of the Toyota Yaris, which has replaced its XLi and GLi models, its sales have fallen. Despite this, the Corolla remains in the top 10 best-selling automobiles in Pakistan for 2022.
The Corolla is Pakistan’s most popular automobile for a reason. It is extremely dependable, simple to maintain, and has a high resale value. Additionally, it is fuel-efficient and features a pleasant, roomy cabin.
4. Suzuki Cultus
The Suzuki Cultus is one of Pakistan’s finest automobiles. It features an affordable price range, a roomy and appealing interior, and a fashionable appearance. It is fitted with contemporary amenities, possesses superior safety features, and achieves outstanding fuel efficiency. Moreover, the Cultus’ components are produced locally and are easily available at reasonable costs.
5. Suzuki Wagon R
In Pakistan, the Suzuki Wagon R is a popular 1000 cc hatchback. It is well-known for its low cost, fuel economy, and ease of maintenance. The Wagon R is offered with both manual and automatic transmissions and comes standard with a number of safety features.