The automobile industry has seen the overwhelming growth of 21.35 percent particularly talking about Jeeps and Cars production in Pakistan, during the financial year 2017-2018 against the last year.
According to Pakistan Bureau of Statistics(PBS), 231,138 jeeps and cars were built during July-June (2017-18) while last year in the same period the figure was 190,466 automobiles.
The light commercial vehicles observed an increase of 19.74 percent in production during the period stated recording a rise from 24,265 units last year to 29,055.
Motorcycles/Bikes production in the country increased by 12.97 percent by growing from the output of 2,500,650 units last year to 2,825,073 units during 2017-18.
The import of bikes/motorcycles has gone up by 15.52% in the financial Year 2017-18 against the same period of the previous year, as revealed by Pakistan Bureau of Statistics (PBS).
The production of trucks also rose from 7,712 units last year to 9,187 units, registering an increase of 19.13 percent while the manufacturing of tractors increased by 33.20 percent, from 53,975 units to 71,894 units.
The production of buses has deposed negative growth of 29.87 percent by going down from the output of 1,118 units to 784 units.
It is worth mentioning that the overall Large Scale Manufacturing Industries (LSMI) of the country saw an extension of 5.38 percent during the year 2017-18 opposed to last year. The country’s LSMI Quantum Index Numbers (QIM) was listed at 147.07 points through July-June (2017-18) against 139.55 points during July-June (2016-17).
On yearly basis, the industrial growth increased by 0.51 percent during June 2018 as compared to same month of last year, however, on monthly basis, the industrial growth decreased by 8.3 percent in June 2018 when compared to growth of May 2018, the Pakistan Bureau of Statistics (PBS) data disclosed.
After the approval of auto policy 16-21, many automobile manufacturers gained green and brown licenses. Companies like Renault, Sazgar, and Datsun are coming to Pakistan with much-anticipated vehicles while Nishat Hyundai is already constructing an assembly plant after gaining loan guarantee from the bank.
Yesterday, Changan Pakistan in collaboration with Master Motors also unveiled their range of heavy and light vehicles at expo center Lahore fueling the car’s production in Pakistan.