Due to Political instability, economical crisis, and the dollar getting new heights every day, the situation for the local car industry has gotten worse as not any news is appreciable coming from this sector.
Due to this, companies are suspending bookings The auto industry was the focus of discussion during Public Accounts Committee (PAC) last week. During the meeting, the PAC was informed that Rs. 189 billion have been deposited by customers as advance payment to 10 car companies.
Breakdown of this huge payment:-
⦁ Toyota Indus Motors (IMC) – Rs99.2 billion
⦁ Pak Suzuki Motors Company Ltd (PMSCL) – Rs. 35.4 billion
⦁ Honda Atlas Cars (HACL) – Rs. 21.8 billion
⦁ Master Changan Motors – Rs. 11 billion
⦁ Kia Lucky Motors – Rs. 10.6 billion
⦁ Hyundai Nishat Motors – 6.9 billion
⦁ Al-Haj Automotive (Proton Pakistan) – Rs. 1.7 billion
⦁ Ghandara Nissan Limited (GNL) – Rs. 1.6 billion
⦁ Sazgar Engineering Works Limited (SEWL) – Rs. 0.7 billion
⦁ Regal Automobile – Rs. 0.3 billion
Hopefully, we get to hear good news from the auto sector and we get out of this Chaos as well as production and deliveries would resume.