Overseas Pakistani Friends

By Mohsin Khan

KARACHI: Local automotive companies are likely to increase car prices in coming days on surging cost of production by uncontrolled utility expenses and depreciation of Pakistani currency against dollar and Japanese currency.
Sources in the market said the Suzuki and Honda carmakers are likely to jack up prices of their brands.
They said Suzuki and Honda were facing a recent increase of Rs 14,000 to 159,000 or 2.1 to 3.5 percent in the price of their car brands in the month of October.
Recently, Indus Motor Company (IMC) soared its automobiles prices by 1.5 percent on the same account. Continue reading »

TOKYO: Toyota’s president unveiled a futuristic concept car resembling a giant smartphone to demonstrate how Japan’s top automaker is trying to take the lead in technology at the upcoming Tokyo auto show.

Toyota Motor Corp. will also be showing an electric vehicle, set for launch next year, and a tiny version of the hit Prius gas-electric hybrid at the Tokyo Motor Show, which opens to the public this weekend.

But the automaker’s president, Akio Toyoda, chose to focus on the experimental Fun-Vii, which he called “a smartphone on four wheels” at Monday’s preview of what Toyota is displaying at the show. Continue reading »

The News report
By Hina Mahgul Rind

Car sales in July surged 61 percent to 17,563 units against 10,942 units in the same month of last year.

On month-on-month basis, the sales improved by 134 percent from 7,517 units sold in June 2011, reveals data released by Pakistan Automotive Manufacturers Association (PAMA). Continue reading »

Federal Board of Revenue (FBR) has enhanced the maximum limit of the depreciation from 50% to 60% on the import of old and used trucks, agricultural tractors, buses and vans.

The decision has been taken in line with a similar decision taken by the Economic Coordination Committee (ECC) of the Cabinet in its meeting held on April 26, 2011 when the apex body while considering the summary regarding “Rationalising the Prices of Locally Manufactured Cars” decided vehicle to enhance the maximum limit of the depreciation to 60 percent on the import of used/secondhand trucks, agricultural tractors, buses and vans. Continue reading »

Indus Motor Company (IMC) will unveil the new 2011 Corolla model during April 2011. The new model (XLI/GLI) is more stylish and gives a very elegant/sleek look with its redesigned fascia including new vibrant and sharp headlamps, aggressively sporty front grill and bumpers along with redesigned tail lamps. Continue reading »

The Indus Motor Company (IMC) has reduced the prices of Daihatsu Cuore and Toyota Corolla Sedan. The reduction ranges between Rs 15,000 to Rs 40,000 per vehicle, said a statement of IMC on Wednesday.

The company’s spokes-person added that over the last several months IMC has made major capital investments amounting Rs 2 billion in the Phase 2 of Press Shop project and also in the engine assembly and testing facilities. These projects are now reaching implementation and start up stage that enables the company to pass the benefits of enhanced localisation and assembly to our valued customers, accruing from these projects. Continue reading »

By Mubarak Zeb Khan and Aamir Shafaat Khan

ISLAMABAD/KARACHI: The government has raised the import `age limit` of used cars to five years from three years sending a strong message of displeasure to domestic car assemblers for their constant ignorance to Islamabad`s demand to lower car prices.

The 5-year old cars will be cheaper than the three years old one to be imported under transfer of residence and personal baggage schemes of expatriate having a stay of more than six months abroad and gifts schemes entitled to the blood relatives in case of more than two years stay abroad. Continue reading »