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KARACHI: Sales of cars, jeeps and light commercial vehicles (LCVs) remained almost flat at 83,201 during the first four months of the current fiscal year of 2018/19 as frequent price hikes and tax restriction stifled auto demand, a brokerage reported on Monday. Sales of cars, jeeps and LCVs were recorded...
Pakistani OEMs’ unshakable confidence in demand is pretty enviable. Either they believe the interminable increase in prices would not damper demand at all, or they are willing to make that trade-off and forgo volumes to safeguard margins. Starting this month, Suzuki has upped its prices for the fifth time...
KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) has raised prices of various models by Rs40,000 effective from Nov 1. The prices of WagonR-VXR and -VXL have been increased to Rs1.184 million and Rs1.274m respectively. The new prices of Swift-DLX and -AT are Rs1.515m and Rs1.651m respectively, and those of Suzuki Cultus-VXR,...
KARACHI:  With an overall investment of around $20 million, Atlas Autos (Private) Limited has inaugurated the DID assembly plant in Karachi, established in technical collaboration with Daido Kogyo Company, Japan, for the assembly of chain drives and CAM chains for Honda motorcycles. Atlas Autos CEO Suhail Ahmed and Daido Kogyo Vice...
KARACHI: With recovery in rupee value against the dollar after $6 billion bailout package offered by Saudi Arabia, Chinese bike assemblers have pushed up bike prices citing devaluation of rupee against the dollar. Country’s second largest bike assembler – United Auto Industries – has surged the price of its two...
KARACHI:  Pak Suzuki Motor Company, one of three Japanese carmakers in Pakistan, announced a 12-fold plunge in profit which came down to Rs95 million in the quarter ended September 30, 2018 mainly due to massive rupee depreciation and higher taxes. An almost 18% rupee depreciation against the US dollar in first...
As predicted, auto makers have decided to pass on the impact of the exchange rate to consumers. The PKR has slipped now by a cumulative 26 percent since Dec-17 against the greenback, with the latest depreciation of 7 percent—OEMS have raised prices of their cars four times since then;...
KARACHI:  Citing negative impact of the falling exchange rate, Honda Atlas Cars has announced that it is compelled to increase vehicle prices from Rs50,000 to Rs100,000 with effect from October 22 this year. The company will again raise prices in January 2019, which will take the cumulative increase to Rs210,000. Prices of...
KARACHI:  Indus Motor Company, which assembles and manufactures Toyota cars in Pakistan, has stopped taking orders because of this week’s sharp depreciation of the rupee against the US dollar, which makes import of auto parts expensive and increases the cost of production. According to the company, the depreciating rupee has resulted...
KARACHI:  Despite an improvement of 3% year-on-year in car sales in September 2018, the industry has reported its worst first-quarter sales since 2013, which marked a decline of 4%. Sales stood at 19,345 units in the previous month compared to 18,798 units in September 2017. Pakistan’s auto sales have shown a growing...

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Economy

Daronomics and its aftershocks

The former Finance Minister Ishaq Dar has finally come out to share his side of the story on what went wrong with the economy....