Top international automaker to launch new variant in Pakistan
Last year, SUPERPAK Engineering (pvt.) ltd. began teasing a new SUV manufacturer in Pakistan called GAC Motor. Guangzhou Automobile Group (GAC) is a Chinese state-owned automotive group that produces and sells passenger cars in over 120 countries.
ProPakistani chatted with the CEO of SUPERPAK Engineering, Mukhtar Ahmad last year. During the discussion, Ahmad stated that the company would debut a Completely Built-Up (CBU) unit in Pakistan in November 2021. Ahmad also disclosed that GAC will introduce a compact crossover SUV called the GS4, and a compact sedan in Pakistan in 2022.
The company became active on social media last year, teasing the arrival of its subcompact crossover SUV GS3. However, since May 2022, the company has been silent on social media as well.
ProPakistani has learned through reliable market sources that SUPERPAK’s plans are currently in limbo due to the ongoing economic situation, local currency depreciation, tax rate hikes, and auto industry import restrictions from the State Bank of Pakistan (SBP).
We tried reaching out to Ahmad for confirmation or denial of this news and are still awaiting a response from him. Other Launch Delays
We also learned recently that Honda Atlas Cars Limited (HACL) and Pak Suzuki Motor Company (PSMC) are delaying the launch of HR-V and Every Wagon respectively. Both companies hinted at the debut of their new products during Pakistan Auto Show (PAS) 2022.
Since then, the following problems have ensued:
- US Dollar (USD) rate has reached an all-time high twice within two months. - State Bank of Pakistan (SBP) has sanctioned auto-sector imports, causing carmakers to observe production cuts. - Government has announced tax rate hikes on various car segments. - Car prices have shot up by up to 20 percent. - Car sales have plummeted massively.
These factors have prompted all automakers to hold off on new car launches. The source added that auto-sector activity will remain slow until the ongoing chaos continues, which may last up until Q2, 2023.