Even festive season failed to vroom Pakistan’s auto industry – Delhi alone bought more
Pakistan’s automotive industry is witnessing this downfall for many reasons. Primarily the rising input costs, overall inflation, currency depreciation and heavy taxation have wreaked havoc on the cash strapped economy’s automotive sector.
In November, 22.47 lakh two-wheeler vehicles were sold, while 3.6 lakh passenger vehicles were sold, nearly 500 cars sold per hour cumulatively across the country
(Pic: istock/ET Now News)
On the other hand closer home the national capital, Delhi itself witnessed 80,000 new vehicles being registered of which 18,000 were cars, as per Federation of Automobile Dealers Associations of India (FADA). A total of 28.54 lakh vehicles were sold in November.
In November, 22.47 lakh two-wheeler vehicles were sold, while 3.6 lakh passenger vehicles were sold, nearly 500 cars sold per hour cumulatively across the country.
On a year-on-year basis Pakistan’s car sales witnessed a decrease of 68 percent when compared to the 15,432 units sold in the corresponding month last year.
Pakistan’s automotive industry is witnessing this downfall for many reasons. Primarily the rising input costs, overall inflation, currency depreciation and heavy taxation have wreaked havoc on the cash strapped economy’s automotive sector.
From July 2023 to October 2023, 20,871 cars were sold in Pakistan, the number was 47.4 per cent lower than the 39,700 units sold YoY. As for jeeps and pickups, the number came down by over 31 percent from 8,873 to 6,117 in July – October ’23 as compared to the same period in 2022.
This article was originally published by a www.etnownews.com . Read the Original article here. .