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KARACHI:  Sales of cars and light commercial vehicles plunged 24% to 19,437 units in April 2019 compared to 25,567 units in the same month of previous year, according to data released by the Pakistan Automotive Manufacturers Association (PAMA). During March 2019, this segment had recorded sales of 22,878 units. Therefore, on...
KARACHI: Pak Suzuki Motor Company (PSMC) switched from profit to loss in first quarter of the current calendar year as earnings were driven down by a massive depreciation of the rupee and the halt to production of its popular car model, Mehran. PSMC posted a loss of Rs980 million in the...
KARACHI: Car imports fell 42 percent to $209 million in the first nine month of the current fiscal year of 2018/19 as restriction on non-filers to own vehicles and weakening rupee discouraged importers, analysts said on Thursday. Car imports – in completely-built-unit shape – stood at $359.5 million in the...
ISLAMABAD: Car manufacturers have agreed to blacklist the dealers involved in illegally demanding premium from car buyers on the delivery of new vehicles. The government has also decided to establish a regulatory framework to keep a check on the auto industry players illicitly charging premium from customers on the delivery of...
LAHORE:  The Pakistan Muslim League-Nawaz (PML-N) government announced the Auto Development Policy (ADP) 2016-21 in a bid to boost the auto sector. The policy was aimed at providing incentives to potential new entrants to make the market more attractive. However, this effort seems to have been undermined as the policy has...
KARACHI: Pakistan’s auto sales increased 2% to 22,866 units in March 2019, according to the Pakistan Automotive Manufacturers Association (PAMA). Sales were recorded at 22,380 units in March 2018. The meagre growth came on the back of a general slowdown in the economy. On a month-on-month basis, the sales were up 14%...
KARACHI:  The government of Pakistan, which is looking for various avenues to increase exports of the country, has set the export target of $1 billion for the manufacturers of auto parts over the next five years. This was stated by the leadership of the Pakistan Association of Automotive Parts and Accessories...
KARACHI: Used car importers have urged the government to commercialise the import of second hand vehicles, which will enhance choices for customers and generate revenue for the government in the form of duty. Used cars are imported under three schemes which are; transfer of residence (TR), gift, and baggage. Under the baggage...
KARACHI:  Following the devaluation in the rupee, Honda Atlas Cars has announced to inflate price of its cars by Rs50,000-85,000, according to a notification issued by the company to its dealers. “Refer to the last rupee devaluation, where Honda Atlas Cars Pakistan Limited did not pass any impact of exchange rate...
ISLAMABAD: Several Southeast Asian companies have started to roll out their vehicles, but slow pace of European manufacturers indicates their lacklustre interest in the Pakistani market. The two European brands that had expressed interest to enter the Pakistani market under Auto Policy 2016-21 were Volkswagen AG of Germany and...

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crisis bank financing

Financing of external payments

The outstanding external debt of Pakistan crossed the century mark early this year. It stands as of the end of March 2019 at $105.8...