Compared to January of last year, car sales decreased by 47% in January this year
Islamabad (13 February 2022) The sale of cars in the country has decreased drastically. According to the data released by PAMA, car sales decreased by 47% in January of this year compared to January of last year. According to PAMA, car sales in January 2023 were down 37 percent compared to December 2022, and car sales in January stood at 11,500 units.
It should be noted that in the current economic situation of the country, the automobile sector has suffered a severe crisis. Production plants have been temporarily shut down. Ali Asghar Jamali, Chief Executive of Indus Motor Company, has said that the local auto industry has suffered tremendously in the current tough economic conditions with little or no signs of abating.
As a result, pressure on production volume is expected this year as well.
Continued import restrictions on CKD kits proved to be the main reason for the collapse of the auto industry. As a result, the company is forced to operate at 40 to 45 percent capacity. Unless restrictions are eased, plant shutdowns are inevitable. Abnormal depreciation of the rupee, rising inflation and tight fiscal and monetary measures have adversely affected the auto industry, accompanied by persistently low consumer demand.
He said that the continuous depreciation of the rupee will increase the cost of production. Due to low volumes, supply and demand issues and tight margins, manufacturers will be constrained to the lowest levels in the coming quarters. This situation presents a bleak future for the auto industry. Urgent help is needed. Production will remain very low in February and March 2023.
Therefore, the company has provided the option of full refund with interest to the customers. He said that the auto industry cannot deal with all these problems unless the government provides support to the industry on various fronts.
Post a Comment