Pakistan Automobile industry registers tremendous growth

Pakistan Automobile industry registers tremendous growth

ISLAMABAD (APP): Pakistan 's automobile industry is reaping fruits of economic turnaround as sale of cars has increased by 24pc in first seven months of ongoing fiscal year.

All Pakistan Motor Dealers Association (APMDA) member H.M. Shahzad in interview with private news channel said similarly, sale of tractors has witnessed massive upward trajectory of 85pc in country's urban areas during same period.

He informed Figures revealed sale of 104, 000 automobile units in first seven months of fiscal year 2016-17 while only a total of 180, 000 units were assembled in fiscal year 2015-16.

In the backdrop of surge in passenger car sales, Pakistan 's booming car market is attracting global attention as renowned automobile conglomerates from across the globe are pouring investment, he added.

Member Shahzad further disclosed that a buyer has to pay Rs180, 000 to Rs200, 000 over immediate delivery of Toyota car depending upon the colour whereas on vehicle of Honda, own price goes up to as much as Rs350, 000.

Under new automobile policy, a car manufacturer is bound to make delivery of vehicle to client within two months and if failsin doing so, earlier is bound to return double the amount of advance payment to later, he concluded.

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