Pakistan’s car ownership rate has declined significantly to just 11 vehicles per 1,000 people, reflecting the mounting challenges facing the country’s automotive sector.
Industry experts attribute the decline to a combination of rising vehicle prices, high financing costs, reduced consumer purchasing power, and economic uncertainty, all of which have made car ownership increasingly difficult for many households.
In response to these challenges, automotive industry stakeholders are urging the government to introduce a comprehensive 10-year automotive policy roadmap that provides long-term stability and a clear direction for the sector.
They believe a predictable and consistent policy environment would encourage local and foreign investment, strengthen the domestic manufacturing base, and support technological advancement across the industry.
Experts also emphasize that a stable long-term framework could help restore consumer confidence, stimulate demand for locally assembled vehicles, create employment opportunities, increase localization of parts, and improve access to affordable transportation.
Such measures are seen as essential for ensuring the sustainable growth and global competitiveness of Pakistan’s automotive industry in the years ahead.
