During a period of surging inflation, the sale of vehicles in Pakistan tooka sharp nosedive, plummeting by 50 percent. Automobile dealers haveexpressed concerns about the potential rise in unemployment.
In August FY23, only 5,900 cars were sold, marking a 52 percent declinecompared to the same month the previous year, as reported by the AutomobileManufacturing Association.
Dealers are attributing this decline in sales to the escalating inflationand the soaring petrol prices. They worry that if the situation persists,conducting business will become even more challenging than it has been inthe past. Car sellers also warn that business closures could lead to asignificant increase in unemployment.
People have noted that owning a car has become a distant dream, especiallywith commodity prices reaching their peak. In the midst of these economicchallenges, purchasing a car has become exceedingly difficult.
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However, a recent report from the Pakistan Bureau of Statistics revealsintriguing trends in the nation’s weekly inflation, the Sensitive PriceIndicator, offering a dynamic snapshot of consumer spending
