Toyota, Honda and Suzuki are Pakistan’s top car brands
It is common knowledge that the Indian auto industry is in the throes of deep depression. Same is the case with Pakistan auto industry. But slowly and steadily, both of them are emerging from the slowdown and posting increase in sales.
Society of India Automobile Manufacturers have revealed that India exported a total of 5,50,466 units during 2013-14 as against 5,47,22 units in 2012-13, while domestic car sales were at 17,86,899 units in FY14. Conversely the Pakistan auto industry sold only 124,807 locally assembled units which include LCVs, Commercial vehicles, vans and jeeps during first 11 months of FY14. The country exported auto parts and accessories to a total of $18.677 million while imports of stood at $1.833 billion.
The same scenario continued in the two wheeler segments in both India and Pakistan. India’s exports where two wheelers were concerned increased 6.52% to 20,83,938 units in FY 14 from 19,56,378 units in FY13. Domestic sales stood at 14.81 million. Across the border in Pakistan, motorcycle sales stood at 1.44 million in 10 months of FY14.
However with imported cars making their way into Pakistan the overall perception of auto owners is undergoing a sea change. High quality cars in a higher price bracket with all the comforts and gadgets are in demand as was revealed in a market research. 10,000 respondents from all walks of life, age and income levels were surveyed. The survey revealed that 18.41% of car owners have at least one unit in the Rs.1-1.5 million category while 15.94% of car owners have one car below the Rs 0.5 million mark.
While car buyers in Pakistan do not put much emphasis on tracking system, insurance cover, there is an increasing awareness where brand perception, fuel efficiency and drive quality is concerned. Toyota brand was the No.1 brand in Pakistan with 86.14% of respondents showing their preference for the brand which was followed by Honda with 83.33% and Suzuki which received 69.12%.