2019 is off and running and with it, the news surrounding the entries of new players combined with extensive focus of the current government on foreign investments has garnered much attention. CarFirst brings you the latest round of the automotive updates that covers Pakistan’s automotive industry:
The much awaited Finance supplementary bill welcomes 2019:
This year has started off with the advent of much awaited Finance supplementary bill of 2019 that has received mixed reviews within the automotive circle. Not only the bill has targeted the import of luxury cars through increase in excise duty, but the same has also been implemented on locally assembled cars. Furthermore, non- filers have been the biggest beneficiary of mini budget as they can now buy locally manufactured vehicles of 1300 cc or less by paying higher taxes.
United Bravo witnesses the increase in car price:
There were obvious divisions within the car enthusiasts on the possible increase in the price of United Bravo but the latest notification of the increase in United Bravo’s price has cleared doubts if any. The company has decided to increase the price of its 800 cc hatchback by Rs. 45000 and the car’s new price tag is Rs. 8,95,000. It is pertinent to mention here that with the added pressure of carrying a consumer friendly tag, the company tried its best to withstand the pressure asserted due to the depreciation of Pakistani Rupee against the US dollar but it finally succumbed to the same.
Master motors to assemble Iveco trucks in Pakistan
Master motors have decided to locally assemble Iveco trucks in Pakistan making it the first Italian brand whose vehicles will be locally assembled in Pakistan. Initially, the company will be producing 300 trucks with the aim of increasing the production capacity with the requirement of the trucks in future. The company has also approached the government to trademark their investment in the Greenfield category with the aim of being facilitated through various perks in accordance with the automotive policy.
Pak Suzuki witnesses a 34% sales increase in December 2018:
It seems that the rumors regarding the possible increase in car prices at the new year have been a blessing in disguise for Pak Suzuki as their sales have witnessed a massive increase by 34% in the month of December 2018. In the 1000 CC category, the sales of Wagon R and Cultus went up by 29 % and 28% respectively while in the 800 CC category, Suzuki Mehran witnessed a galloping 46 % increase for the same tenure.
Much has been said and much is expected in the near future as we move forward in 2019 with a close eye on Pakistan’s automotive industry. With an aim of transforming the automotive industry of Pakistan, CarFirst aims to regularly bring the latest rounds within the automotive circle for their customers.