Pak automobile sector rides high demand
March 28th, 2016 | Technology Times | No Comments
STAFF REPORT LHR: The Pakistan Auto Show-2016 the 12th in its series has recently been staged at Lahore. With increased production capacity and easy prices demand is rising fast. A large number of customers are facing three to four months waiting period to get delivery of cars including Toyota and Honda.
Mumshad Ali, Chairman Pakistan Association of Automotive Parts and Accessories Manufacturers, said: “As a result of our high-tech and pro-consumer products the demand for automobiles components and spare parts is expected to rise over the next three to five years. We are committed to all aspects including pricing styling designing technology spacing user ease and comfort.”
Ali said: “The annual revenue of local parts turnover is estimated at 4 billion rupees. The current export turnover is one billion rupees. The major buyers for the Pakistani auto parts industry are from the US Europe Turkey Sri Lanka and Africa. China Thailand and Malaysia are the key countries from which the auto parts industry imports its requirements.
Syed Nabeel Hashmi, chief organiser Pakistan Auto Show said over the years the event has brought a paradigm shift to the sector. Totday a good response to the show indicates the shift of preferences of producers and consumers to Pakistan because of its high-tech production and high caliber workers and engineers.
Car sales in eight months (July-February) of fiscal year 2016 rose 37.7 per cent compared to the like period of fiscal year 2015 the Pakistan Automotive Manufacturers Association said. During this period 121934 cars were sold from 88538 units in the like period of fiscal year 2015.
Published in: Volume 07 Issue 12
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