The auto sales in Pakistan has just witnessed its biggest monthly increase in the month of January 2018. According to the industry data, the sale of locally assembled automobiles, including jeeps and light commercial vehicles increased by 13 percent to 23,562 units as compared to 20,884 units sold in the same month last year.
This is the highest monthly sales figure that has ever witnessed in the month of January. In the first seven months of the fiscal year 2017-18, auto sales in Pakistan experienced around 25 percent growth to 147,700 units in contrast to the 118,417 units sold in the same period of the previous fiscal year.
Most of the growth can be attributed to the inclusion of ride-hailing companies in Pakistan where people are rushing to buy a car to earn money. Also, easy access to auto loans has also played its part to offset the impact of the increase in prices which were witnessed as an aftermath of price devaluation.
Recently, Honda, Toyota, and Suzuki also increased its prices in Pakistan owing to the rupee devaluation. The Pakistani auto industry will soon face a fierce competition when new auto companies including Volkswagen, Renault, Hyundai, Sazgar, KIA etc. will start manufacturing their vehicles in the country