Pakistan's auto industry sees 'record' business
- By Web Desk -
- Jul 11, 2024
ISLAMABAD: Pakistan’s auto industry saw record sales during the last 18 months as 81,577 cars were sold in the last fiscal year, ARY News reported.
According to the Pakistan Automotive Manufacturers Association (PAMA), in a remarkable turnaround, Pakistan’s auto industry has achieved an 18-month high in car sales, with a staggering 138 percent annual increase in June alone.
The PAMA said that 10,128 units were sold in June 2024, up from 4,257 units in the same month last year.
The association added that the sale of cars above 1300cc has seen a significant boost of 174 percent, while buses and trucks have also seen a notable increase in sales.
Earlier it was reported that the regulatory duty on vehicles larger than 1800 cc was expected to rise by 30 percent while the duty on large vehicles is likely to increase from 70 to 100 percent.
A 15 percent duty may be imposed on used vehicles up to 1800cc while new and old hybrid vehicles up to 1800cc may continue to enjoy zero duty. It is feared that imported used vehicles will become more expensive in the country