Pakistani Motorcycles Market, the largest sector in the transportation industry, is in a very bad mood and in September 2023 scored the 15 year on year lost in a row, with YTD figures at 759.238, down a deep 34.3%.
Pakistani Motorcycles Industry Trend and Perspectives
Pakistan is in hard time. The economic and financial difficulties has been exacerbated starting from mid of last year by catastrophic floods, tight monetary stance, high inflation, and a less conducive global environment.
Poverty in the hardest-hit regions will likely worsen in the context of the recent flooding. Preliminary estimates suggest that – without decisive relief and recovery efforts to help the poor – the national poverty rate may increase by 2.5 to 4 percentage points, pushing between 5.8 and 9 million people into poverty.
Macroeconomic risks also remain high as Pakistan faces challenges associated with a large current account deficit, high public debt, and lower demand from its traditional export markets amid subdued global growth.
No surprise that in such negative environment, demand for new 2 and 3 wheelers collapsed starting from July 2022..
The motorcycles market, the largest sector in the transportation industry, is in a very bad mood and in September scored the 15 year on year lost in a row, with YTD figures at 759.238, down a deep 34.3%.
All vehicles types and engine classes are declining sharply while, among the manufacturers, the leader Honda reports sales down by 29.1%, ahead of United Auto (-54.0%), Road Prince (-64.7%) and Suzuki (-58.8%).