Car sales drop by 50pc

[Devil Soul]

Car sales drop by 50pc

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KARACHI: Devaluation of rupee, hike in interest rate and Customs duty have badly affected auto industry in the country, while the local businessmen is suffering because the auto investment has stopped and international brands have postponed to launch any new product in the current situation.

The industry sources told this correspondent that at least 50 percent decrease in car sales has been witnessed, adding that the situation may get worse.

They said the incumbent government took some initiatives that did not endorse ADP-21 2016 Auto Policy and also harmed localisation and the production of 550,000 vehicles locally.

The auto manufacturers claimed if such situation persists and the government may suffer Rs225 billion losses and nearly 1.8 million employments perish. They said the industry needs long term and persistent policies to enhance investment and opportunity that benefits both the industry and the country.

The Pakistan Auto Manufacturing Association (PAMA) released its sales data that reveals nearly 66 per cent decrease in the sale of an international brand Honda as 4,981 units were sold in July 2018 and it reduced to 1,694 units in July 2019. The data said the Toyota received 56 per cent decrease in sale during the period as 5,468 units were sold in July 2018 and only 1,694 units were sold in July 2019, while Suzuki Motors got 23 per cent decrease in sales.

The current market situation forces the industry players to reevaluate future policies. They said the increase in Advanced Customs Duty on raw materials and nearly 2.5 to 7.5 per cent increase in Federal Excise Duty which was announced in the budget would really hurt the industry.

The auto manufacturers said that the devaluation of Pakistani rupees was devastating. The sources told that the current fiscal year, the local auto industry inducted at least Rs140 billion in the market while US$ 1.3 billion would be invested by the new companies.
https://www.thenews.com.pk/print/517013-car-sales-drop-by-50pc

 

[R Wing]

The companies are still profitable --- wow, so much to complain about!

This is actually a good thing. They were overpriced. Maybe this forces some local manufacturing/plants beyond just importing parts for assembly.

https://thearabweekly.com/algeria-shifts-automotive-industry-focus-car-parts-manufacturing

 

[Sabretooth]

Use bicycle or electric scooters/bikes. There is an upside to this. Less fossil fuel-run vehicles, fewer carbon emissions into the atmosphere and better environment, healthy people.

 

[Fawadqasim1]

Use bicycle or electric scooters/bikes. There is an upside to this. Less fossil fuel-run vehicles, fewer carbon emissions into the atmosphere and better environment, healthy people.

Absolutely sir but visit Peshawar and try to use bicycle or electric scooter. ?

 

[Sabretooth]

Absolutely sir but visit Peshawar and try to use bicycle or electric scooter. ?

Yes. The perils associated with elusive BRT. One should jump into the washing machine together with clothes after a day out.

 

[Fawadqasim1]

Yes. The perils associated with elusive BRT. One should jump into the washing machine together with clothes after a day out.

Absolutely sir

 

[Fawadqasim1]

They were ordered to shift their plants to Faisalabad in Nawaz time. They denied, and ishaq dar tried his level best to bring new manufacturers, but failed.
In Imran govt, they are being deliberately targeted and blackmailed. Policies like this will harm whole Pakistan.

Moving imports/exports dependent industries away from sea port makes no economic sense and these local manufacturers are extortionists period i think india nawaz had planes to import parts from his beloved india cause this plan of his only made sense in that context.

 

[Syed1.]

The industry sources told this correspondent that at least 50 percent decrease in car sales has been witnessed, adding that the situation may get worse.

Mashallah amazing reporting, now we are relying on he said she said

 

[Fawadqasim1]

Policy makers are same.
I am sorry to say, as this might hurt the feelings of many here, policy makers sitting in Pindi and Islamabad, don't think beyond North Punjab. Even CPEC, which was not supposed to pass through near Lahore, was forcefully dragged till lahore. I mean, rest of Pakistan is also human beings, and deserve some respect.
There is another dangerous aspect of that. All military, commercial and strategic installations are being moved to North Punjab at accelerated rate in current govt era.
All India has to do, is to capture that area, and Pakistan is done. People of areas beyond that region, are already half dead.

I fully agree with you on this we should not put all of our eggs in one basket especially our nuclear and missile production assets

 

[B.K.N]

They were ordered to shift their plants

Dear fitpositive government has heavily taxes cars to reduce their sales because Pakistan can't afford such luxuries
Now Pakistani is doing what's called chadar dekh Kar pair phelana

 

[Fawadqasim1]

In musharraf era, Pakistan strategic assets were spreaded all over Pakistan, even Balochistan was considered. But then came two haramkhors in a row, and this fool afterwards. Now everything is shrinking towards center.

Imran's hands are full cleaning the mess made by those haramkhoors. The mess made by them is so huge that even imran seems helpless and clueless sometimes but i am an optimist we will get out of this mess insha allah as far as our generals looking towards the center is concerned it is obvious look at balochistan kpk interior sindh etc but as the situation improves their myopia will also get better so

 

[Kabira]

They were ordered to shift their plants to Faisalabad in Nawaz time. They denied, and ishaq dar tried his level best to bring new manufacturers, but failed.
In Imran govt, they are being deliberately targeted and blackmailed. Policies like this will harm whole Pakistan.

You are a moron lmao post at least 1 source of anything you are claiming. You sound like Altaf hussain minion. Cars sales are down because increase of price by 50%.

 

[maithil]

Cars are luxury items. Those who can pay high taxes should only buy them.

 

[Kabira]

What about motocyles? Honda moved one plant to Shaikhopora. Ofcourse when someone talks about his people and rights, he becomes Ghaddar, and its a general trend in Pakistan. But there is a limit to everything, and I think, it has already reached. I can mention many other things here, but I know enemy is also listening.
Pakistans policy makers better start thinking now.

Again post source. Yes some assembly plants exist in punjab, big deal when majority of their sales happen in punjab. Im talking about Altaf muhajir propaganda of them forcing them to move to punjab, post source. Your patern of posts are similar so Im not surprised.

 

[H!TchHiker]

In musharraf era, Pakistan strategic assets were spreaded all over Pakistan, even Balochistan was considered. But then came two haramkhors in a row, and this fool afterwards. Now everything is shrinking towards center.

Lol.. Yes and they keep you posted when they did that. You are coming up with something unique. Its quite evident that car prices are being increased due to devaluation and interest rate issues. All it has made difficult to buy .. What it has to do with what you implying ? Industries in Punjab, KP or anywhere else suffering in same way