Tag: Auto industry
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BYD says half of total vehicles sold in Pakistan will be electric by 2030
Up to half of all vehicles sold in Pakistan by 2030 could be electric, according to BYD Pakistan, a joint venture between BYD and Mega Motors.
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Toyota Yaris prices reduced by up to Rs133,000
Indus Motor Company, the manufacturer of Toyota vehicles in Pakistan, has announced a significant price adjustment for its Yaris sedan range.
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Factors behind the continuous decline in car financing in Pakistan
In January 2024, the automobile financing sector in Pakistan witnessed a significant downturn, as car financing recorded a notable decrease to Rs246.26 billion.
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SBP-held forex reserves surge to $7.76 billion in December
In the week concluding on December 22, 2023, Pakistan witnessed a substantial increase in its total liquid foreign reserves, reaching a noteworthy $12,855.7 million.
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Pakistan expected to export cars to Kenya
Master Changan Motors, a noteworthy Pakistani-Chinese collaboration, has initiated the export of its Oshan X7 mid-size crossover to Kenya.
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High interest rates and taxes lead to 20.90% drop in car financing in Pakistan
Delve into the latest financial trends as we analyze the sharp decline of car financing in Pakistan, with insights from State Bank data indicating a 20.90% YoY decrease. Discover the factors behind this downturn and its implications for the auto industry and the economy as a whole.
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Car sales in Pakistan witness 57% decline in July 2023 compared to last year
In the midst of ongoing economic uncertainty, the automobile sector has encountered a substantial decline in car sales, marking another significant setback.
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Toyota Indus Motor Company sees 142% increase in quarterly profit despite low demand
Indus Motor Company (IMC) announced a 37 per cent decrease in its profit-after-tax (PAT) for the third quarter of financial year 2022-23, with earnings of Rs3.216 billion compared to Rs5.118 billion in the same period last year.
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Suzuki Swift experiences price increase of over Rs1.8 million since March 2022
In a little under a year, the price of cars in Pakistan has risen dramatically. Car companies across the country have announced successive price hikes since last year. Even the most affordable models, such as the Suzuki Alto, have become prohibitively expensive, with prices that the average salaried worker can scarcely afford. These price hikes…
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Toyota IMC records worst sales in three years, selling less than 2,000 cars in February
Toyota Indus Motor Company (IMC), a leading automaker renowned for offering the country’s best-selling sedan, has reported a significant decline in sales in February 2023, marking the worst sales month since the onset of the Covid-19 pandemic. Having previously sold over 7,100 units in March 2022, the company’s sales have now plummeted to a meager…