Sales of brand-new automobiles built in Pakistan fall by 80 percent. In April 2023, sales amounted to only 4,463 units, a 66.5% reduction from the yearly total of 30,752 units. Sales of newly constructed light automobiles in Pakistan dropped 80 percent year-over-year in April 2023, according to data from the Pakistan Automotive Manufacturers Association. Annual sales of just 30,753 units are a drop of 66.5%.
Online news stories concerning Pakistan’s automobile sector often use words like “shutdown” and “halt” in their headlines. Pakistan’s car industry, among others, has been facing extraordinary difficulties since the year began.
It has become the norm for production to shut down and be disrupted in many import-reliant businesses and industrial sectors. We, like other automakers, have experienced a lack of necessary components. However, the issue has much diminished, and the supply chain is operating normally. China Economic Net reports that on September 1st of last year, the first Great Wall Motors (GWM) plant in Pakistan was established in Lahore. has begun manufacturing with a yearly output of 20,000 units.
In addition, on November 17th, GWM’s Haval H6 HEV debuted to the public in Lahore. Many key milestones have been reached, including the “first locally assembled new energy hybrid model” in Pakistan, and the announcement has sent shockwaves across the industry. When compared to Japanese companies that have been present in Pakistan for over 30 years, Great Wall Motors is “the first brand to do local assembly of hybrid vehicles,” Shi of China Economic Net stated. shared
As time goes on, GWM plans to roll out plug-in hybrids and completely electric versions, bringing cutting-edge new energy technology to Pakistan and helping the nation transition away from cars fueled by conventional fuels. I’ll help smooth things out. China Economic Net reports that various international investors have been drawn to Pakistan since the inauguration of the China-Pakistan Economic Corridor (CPEC) due to the country’s large consumer market and economic might.
Chinese automakers are so committed to being market leaders in spite of the recession that they have not only built up assembly units in Pakistan but also expanded their product lines to meet the needs of Pakistani consumers. Pakistan is the fifth most populated nation in the world, yet only around 20 out of every 1,000 people there possess a car, according to Great Wall Motors Group Vice President Shi Chingguk, who was interviewed by China Economic Net.
In comparison, by 2022 China had 230 cars for per 1,000 residents. This demonstrates Pakistan’s boundless commercial potential. Mian Mohammad Ali Hameed, chief operating officer of Favorable Engineering Works and GWM’s Pakistani partner, was quoted on China Economic Net as saying, “Right now, we’re overbooked.” China Economic Net said that Japanese automakers accounted for a lion’s share of Pakistan’s car market.
The cars they took with them were outdated, unfortunately. Some Pakistani automakers are trying to break through the market domination of Japanese companies in the compact and economy car market. Pakistan, in my opinion, will eventually join the global trend toward alternative energy sources. Given GWM’s prominence in the renewable energy industry, we’ve decided to investigate this area with them as a joint venture partner.
According to Hameed, Great Wall Motors was able to enter the Pakistani market with little difficulty because of the company’s extensive history of making and producing right hand drive automobiles in a variety of nations. Hameed reportedly remarked, “We have addressed a major employment concern for our local population by establishing an assembly plant in Pakistan, which will provide employment for thousands of people,” according to China Economic Net.
Importantly, we want to reduce import prices and improve service to our Pakistani consumers by increasing local production of particular vehicle components in the future. Additionally, it will trigger a technical sea change in Pakistan’s automobile production sector. With 857 units sold in the first four months, GWM Haul has a 2.8% market share and is rated sixth among foreign vehicle brands, as reported by China Economic Net. The V market share increased to 12.5%. While the market as a whole fell by 49% month over month from January to April, GWM soared by 94%.
Hi Everyone I Am Selena The Owner of Visaiqama.com We Upload Daily News Article About Trending Topics Around The World