Everything in life is somewhere else, and you get there in a car. (E. B. White)
The Pakistan Automotive Manufacturers Association (PAMA) has released the October 2017 data for automotive assembly and manufacturing, showing robust growth across the sector. During July – October 2017 sales grew by a cumulative 31.31 per cent in the Passenger and Commercial vehicle category, over the same period of 2016. A total of 89,084 vehicles were sold in the 2017 period (2016: 67,841 units). With a large and growing population base and rising GDP Pakistan is poised for further growth in the consumer goods industry, including automobiles. For a country that is often portrayed as being beset by serious economic problems these are solid numbers, that suggest robust consumer purchasing power, whether it is in terms of cash purchases or on instalment plans. Auto financing has increased substantially, doubling from Rs.20 billion in 2014 to over Rs.40 Billion year-to-date in 2017. Furthermore, the entry of Uber and Careem into the local market has spurred vehicle purchases as people register with these companies to provide their vehicle for hire. The higher number of vehicle sales also reflects the inadequacy of the public transport system in the country, a fact borne out by the increasingly high growth rate within the low cost motorcycle and three-wheeler segment.
Read Complete Article: Growth Trajectory: Pakistan Automotive Sector
The Pakistan Automotive Manufacturers Association (PAMA) has released the October 2017 data for automotive assembly and manufacturing, showing robust growth across the sector. During July – October 2017 sales grew by a cumulative 31.31 per cent in the Passenger and Commercial vehicle category, over the same period of 2016. A total of 89,084 vehicles were sold in the 2017 period (2016: 67,841 units). With a large and growing population base and rising GDP Pakistan is poised for further growth in the consumer goods industry, including automobiles. For a country that is often portrayed as being beset by serious economic problems these are solid numbers, that suggest robust consumer purchasing power, whether it is in terms of cash purchases or on instalment plans. Auto financing has increased substantially, doubling from Rs.20 billion in 2014 to over Rs.40 Billion year-to-date in 2017. Furthermore, the entry of Uber and Careem into the local market has spurred vehicle purchases as people register with these companies to provide their vehicle for hire. The higher number of vehicle sales also reflects the inadequacy of the public transport system in the country, a fact borne out by the increasingly high growth rate within the low cost motorcycle and three-wheeler segment.Read Complete Article: Growth Trajectory: Pakistan Automotive Sector
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