Vitz turned out to be the most popular imported car in Pakistan as imports jump by 70%. During the last fiscal year government of Pakistan has imposed heavy taxes on import of cars. Ignoring the fact, customers have imported a large amount of foreign assembled cars. This turned out to be 70% increase in the imports as compared to last year.
On the other hand, in 2017 the most popular imported vehicle was Toyota Vitz.
What were the Trends in Imports?
Import General Manifest (IGM) revealed the latest data and figures which demonstrate that following trends were seen in the import of used cars.
- On the whole, used cars reached 65,723 units, upbeat from 38,676 units last year.
- 7,758 units with increment of 59% were seen in the import of Sport Utility Vehicles (SUVs).
- With 8,680 units imported in 2017 Toyota Vitz turn out to be the most popular imported vehicle (increase if 40%).
- Daihatsu Mira also surged by 73.1% with Imports of to 6,091 units.
- Toyota Aqua also targeted the Pakistani commuters who imported 7,123 units, up by 96%.
- Suzuki Every’s sale augmented to 5,088 units, showing an increase by 14.6%.
- Honda Vezel which managed to sell total 2,431 units in 2017, up by 57.5%.
- Suzuki Alto’s wins the heart s and minds of customers by 100% to touch 4,158 units.
- Toyota Land Cruiser managed to sell 3,301 units, up by 55.7%.
- Suzuki Wagon R’s sales amplified by 115% to 3,574 units.
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During current fiscal year, the worth of import touched $276 million from July to December.
O the other hand, there was a significant drop of money for local vending industry. According to Automotive Parts and Accessories Manufacturers Association, the industry lost Rs 23 billion in returns.
The reason why sales of imported vehicles sky-rocketed is the introduction of ride-hailing services like Careem and Uber. As, the locals get a good chance to earn their livelihood through their vehicle.
However, the imports didn’t slow down local manufacturers from selling their stock either. There was 20.4% increase in sales of local cars which crossed the 1-lac mark to stroke 103,432 units annual.
