Dec 112011


Increasing utility expenses and record depreciation in Pakistani rupee, which in last month only has depreciated by almost 5 percent against Japanese Yen (from 1.0980 to 1.152) and 4 percent US$ (from 86 to 89) has forced the Indus Motor Company (IMC) to marginally increase the retail prices of Corolla, Cuore and Hilux variants with immediate effect.

According to the IMC statement, prices have been increased by around 1.5 percent only on account of very steep decline in Pak Rupee against US$ and Japanese Yen, which is making the imported CKD kits and local vendor parts more costly as the raw materials of vendors are also imported. Continue reading »

Jan 222009

By Hina Mahgul Rind

KARACHI: Continuous price hike of local automobiles since 2006 has put new cars out of range of middle-income groups.

According to the latest data released by Pakistan Automotive Manufacturing Association (PAMA) cumulative auto sales (cars + LCVs) depicting a fall of 40 per cent year on year and on a month on month basis, the scenario was more depressing as unit sales declined by 55 per cent. Continue reading »

Dec 172008

By Mushfiq Ahmad

KARACHI: Car sales dropped sharply in the first five months of the current fiscal year, indicating the worsening health of the economy and falling purchasing power of consumers.

According to figures released by Pakistan Automotive Manufacturing Association (PAMA), car sales stood at 33,858 during Jul-Nov 2008 compared with 62,815 in the same period of last year, a decline of 46 percent. Continue reading »