As per to the data, last year Pakistanis imported 65,723 units of cars and minivans, that is actually 70 percent increase in import ,if a comparison is to be made in the import figure of 2017 and 2016. Furthermore, imported SUVs and Pickups also saw 59 percent and 9 percent increase in 2017 that is shocking.
Owing to the lack of manufacturing of cars in the country by local automakers, consumers in massive numbers import cars from Japan and other countries. The data released by the auto industry lately displayed the similar trend of people importing cars in large numbers.
Toyota Vitz was the most well-liked import car of 2017, as many as 8,680 units shipped to Pakistan. Furthermore, the figures of other cars imported by consumers are as follow:
- Daihatsu Mira6,091 units
- Toyota Aqua7,123 units
- Suzuki Every5,088 units
- Daihatsu Hijet3,367 units
- Suzuki Alto4,158 units
- Suzuki Wagon R3,574 units
- Honda Vezel 2,431 units
- Toyota Land Cruiser 3,301 units
The quantity of imported used vehicle rush forward to 65 percent, as reported by Dawn. A whole sum of 76,635 units were shipped in 2017. On the other hand, it is also reported that for the reason that excessive import local automobile industry saw a revenue loss of PKR 23bn last year. Last year in October, the government of Pakistan issued SRO 1067(1)/2017 to strengthen import policies, making the car import hard. As per authorities, they issued the SRO to restrain trade deficit of the country. Only time will tell how much government has accomplish something in curtailing the import of cars.
It is relevant to talk about here that the data of each imported vehicle, new or old is preserved in the Import General Manifest (IGM)—in simple terms each and every imported car approaching from any country is logged in the custom’s IGM.
Last but not least, Honda Pakistan too posted their net profit for 9 months of 2017 (April-Dec). And As per to the company, it gained a net profit of Rs 5.12 billion.