News Desk
Karachi: Auto expert and former chairman of the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), Mashood Ali Khan, said that except for tractors, sales of other vehicles decreased, including those of buses and trucks. “This industry is not going to work unless drastic changes are made in the policy,” he said. “The industry is not working, so buses and truck sales remained low.”
Khan said that an increase in the sales tax on cars by the caretaker government was also hurting the sales of cars. “The auto industry’s results are not good. Prices are very high.” He said that there was a need for an industry policy, as the industry has been ignored, which would not be beneficial for the country. “We need to cut down on car prices to increase sales and make a win-win position for the customers, as a common person is not in the position to buy a car because of high inflation,” he said.
According to brokerage Topline Securities, car sales, including non-PAMA members’ car sales, clocked in at around 10,900, down 7 percent month-on-month while up 52 percent year-on-year in February 2024.
Indus Motors sales were down 26 percent month-on-month to 2,036 units in February, primarily due to the high base effect of last month and the launch of the new Corolla Cross. Topline Securities reported that escalating car prices, expensive auto financing, and the low purchasing power of consumers contribute to the decline in sales.
