Pakistan is primarily known out to be the used car market. It is mainly for the reason that it is the low-vehicle production of new cars by local manufacturers. It would be all leading into the view of the longer delivery times that further results in high premium on vehicles. Regarding avoiding any the hassle and awkwardness, people choose as to buy used cars. In Pakistan, as in the last year around 7.5 lac, used cars were traded as they sold and bought away. In the same view, there was around 2 lac new cars purchased. These stats do make us know about the fact that how much quantity of used vehicles bought and how big the used car market is in Pakistan.
Trends Of Buying Used Cars In Pakistan
In one of the surveys that conducted, around the total of 19,155 numbers of responses were recorded as from all over the country. A study was conducted from the people to know that whether they by the used car or the brand new car. Around 58% of the respondents did claim that they bought a second-hand car. Whereas there was approximately 38 percent asserted that they purchased a brand new car. It brings about the conclusion that how big used car market Pakistan has been probably for the reason of the prolonged delivery time and so as the high premiums on vehicles. Apart from choosing with the purchasing of a used car made locally, the locals are also planning as in importing cars from other countries. In the last year over the amount of 80,000 vehicles were introduced in Pakistan. Even today in 2018, the car penetration is around 15-17 vehicles as per 1000 persons. Some of the amazing and yet new automakers have landed in the country mentioning the names of Hyundai, Kia, Renault and so many others. It has for sure raise the car penetration ratio in the country.
Do you think that Government should be taking on with some of the immediate steps as to make our car market more diversified? The automobile market of the Pakistan sector will be bringing much improvement and advancement in the coming few years. As many improved vehicles will introduce the more emergence will witness in the automobile market of Pakistan.