Due to the lack of inventory on hand, supply chain issues, import restrictions imposed by the State Bank of Pakistan (SBP), and strict guidelines set on the opening of letters of credit (LCs), local auto assemblers have been experiencing non-production days (NPDs) for several months as a result of the current economic crisis. As a result, the production of automobiles in Pakistan has suffered significantly.
Suzuki made a comeback in terms of sales in March, selling more than 5,600 units and recording a significant Month on Month (MoM) increase of 476% in total sales.
Although this hints at an overall recovery industrywide, it also highlights that the demand for new cars still exists despite massive price hikes and delivery delays.
Some consumers are reportedly paying up to Rs. 365,000 more to receive the Suzuki Alto right away, according to a recent report, Despite the country’s financial difficulties. The retail cost of the vehicle provided by the PSMC is up to 2.93 million rupees at the same time.
According to sources, PSMC produced 2.5 million vehicles over more than 40 years in Pakistan, marking a new milestone. In order to reach the milestone, the company’s affordable vehicles, such as Mehran, also known as “The Boss,” before 2019 and the popular “Alto” afterward, were crucial. Furthermore, Bolan, Wagon R, and Cultus all followed likewise.
https://ift.tt/zJ9OcD1