Many customers have to wait a long time to take their car delivery for Toyota and Honda too.
The automotive industry in Pakistan is witnessing a revolution in vehicle production and spare parts and components technology while the customer’s number is growing thanks to the flexible bank financing.
The 12th Pakistan auto show 2016 took place in Lahore, the demand is increasing so much on cars and the prices are reasonable that customers had to wait for months to get delivered concerning Toyota and Honda.
Mumshad Ali, the chief in head of Pakistan Association of Automotive Parts and manufacturing accessories said: “As a result of our high tech and pro-consumer the demand for automobiles, components and spare parts is expected to rise over the next three to five years. We are committed to all aspects, including pricing, styling, designing, technology, spacing, user ease and comfort."
He said: “The annual income of local parts turnover is estimated at 4$ billion and the current export turnover is 1$ billion. Most of customers of Pakistan auto parts industry are from Europe, US, Turkey, Sri Lanka and Africa. China, Thailand and Malaysia are the main countries from which auto parts industry imports its needs”.
Syed Nabeel Hashmi, chief organizer of Pakistan Auto exposition, said over the years, is a role model in the sector, now the response if the exposition shows a change of preferences of consumers in Pakistan thanks to its high tech production and qualified workers and engineers.
The car sales from July to February of the fiscal year are 37.7% comparing with 2015; the Pakistan Automotive Manufacturers Association said that during this period, 121,934 cars were sold from 88,538 units in 2015.
"The government is making ways for new automotive assemblers in Pakistan that’s what creates the competition in the industry” said Hashmi.
Tariq Chaudhry, the executive director of Pakistan Engineering Development Board said “Pakistan's automotive industry is playing a crucial role in strengthening the national economy and elevating Pakistan's image as a progressive and modern country with a strong industrial base."
The industry is encouraged by the credit it took from 135 countries and professionals. Chaudhry said the government of Pakistan is committed to set up all the necessary measures to support large-scale investments and enhance the friendly business environment for the automotive and engineering sectors.
He also said "I congratulate our local manufacturers and engineers who have succeeded at establishing a sophisticated engineering sector, which is creating new opportunities for value-added exports. These include fully assembled cars, commercial vehicles and tractors, motor cycles, special purpose vehicles, and all types of hi-tech components and parts."
The industry and the government have been working on details of more incentives for the auto industry and new policies for the auto industry at this week's meeting of the cabinet's economic committee.
Ishaq Dar, the finance minister said after the meeting: "The inter-ministerial level meeting will set up its additional proposals and ready the auto policy for the settings".
The government has established five policy objectives for the auto industry: To facilitate higher volumes, more investment, better quality and the latest technology; creating a balance between industrial growth and costs; stimulating growth and streamlining trading activities; ensuring consumer welfare, quality, safety, choice and value for money and police developments, consistency, predictability and review mechanism.

F.Z Maghelli

The pasionaria automotive news.