The year 2022 has been filled with ups and downs. The automotive industry saw the prices of vehicles soar as the rupee faced unprecedented devaluation. Despite having high localization and many years of stable operations, some automakers hiked their car prices more than the impact of currency devaluation. On the other hand, there have been some automakers who like to challenge the status quo and pass on to the customer a relief during these tough times.
With the introduction of the automotive policy in 2016, a wave of new generation automakers entered the country. All of the automakers entering post 2016 offered one thing or the other. KIA was able to make a headstart with the introduction of its popular crossover Sportage but it could not last much longer as more equipped crossovers and SUVs started to enter the market. Having a diverse and strong product line-up is essential to avoid such problems.
Another promising OEM has been Changan. New to Pakistan, Changan has a heritage of 160 years and is the number 1 selling domestic automobile brand in China for the last 12 years consecutively, in CY 2022 it achieved a sales volume of xxx units. Among all Chinese brands in China, Changan ranks #1 in the globally acclaimed JD Power Initial Quality Survey. Now, Changan is set to transform international markets with the disruptive products it is known for.
Recently Changan’s vehicles in Pakistan were ranked #1 by a large margin in a public survey. Oshan X7 was rated as the most loved SUV, Alsvin was rated as the most loved and fuel-efficient sedan and ChanganKarvaan was rated as the most loved MPV. The company dedicated the last quarter of 2022 to celebrating these milestones by giving back to their customers.
As 2022 closed, Master Changan claimed the #1 spot amongst all new entrants – ahead of all Korean, Malaysian and Chinese OEM’s. Here’s a highlight of segment share of different Changan products in Pakistan:
1. ChanganKarvaan 42% Small Van Segment Share
2. Changan Alsvin 18% B-Sedan Segment Share
3. Changan Oshan X7 15% C-SUV Segment Share
4. Changan M9 Sherpa 7% Small Pickup Segment Share
By introducing the latest generation products in every segment and supported by a state of the art nationwide 3S dealership network throughout the country Master Changan has been able to bring almost 40,000 units on the road in a couple of years making it the fastest growing and most loved automobile brand in Pakistan.
With the reduction in real wage of every household in Pakistan, automobile purchasing has seen a dent as households delay vehicle purchases in order to prioritize other more urgent needs. The ongoing challenge of the national economy has also forced the central bank to apply import restrictions across all industries. Relying on imports for various components, the automobile assemblers, auto part vendors and accessory business, all have suffered a disturbance in business operation.
Even though the company is improving its market share, Master Changan has once again stepped forward and offered relief to its customers as a good business practice. Customers purchasing any Changan product in January 2023 will be offered specially designed rebates to offset post-purchase costs and help customers hit most by inflationary pressure. All rebates are offered via invoice adjustment by the company.
SPECIAL 2023 NEW YEAR OFFER ON ALL CHANGAN VEHICLES
1. PKR 250,000 rebate on M9 Sherpa and Karvaan (Standard grade)
2. PKR 175,000 rebate on Karvaan (Plus grade)
3. PKR 200,000 rebate on Alsvin (all grades)
4. PKR 160,000 rebate on Oshan X7 (all grades) in addition to Free 1 year insurance and PKR 30,000 accessory voucher,
The company announced that the promotion is applicable on limited stock only and for a limited period in the month of January. This is a much-appreciated step from Master Changan by the market and highlights how moving from an oligopolistic market to one that is competitive and is providing choices, and customer centric offers to the Pakistani auto consumer.
Changan products are currently offered by all leading banks nationwide and special rental discounts are also available with Bank Al Falah, Habib Metro, Bank of Punjab and Bank Islami.
