Four automakers have recently launched around a dozen new car models in the market. Pak Suzuki Motor Company recently stopped the booking for Mehran model but during the Pakistan Auto Show 2019 the company launched Alto 660cc.
A company official said, “Alto is expected to beat sales of Mehran.”
Then Kia-Lucky Motors displayed the SUV Kia Sportage and 1000cc Kia Picanto that will be available in the market in the months of June and October respectively.
Coming to another automaker Changan Automobile that partnered with Master Motor Company to launch 1000cc Karvan, 1000cc M9 and displayed Changan CX70 seven seater that will launch in the market by the end of 2019. Master Motor has also introduced heavy commercial trucks Foton EST 410 and Iveco.
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The CEO of a leading automaker said, “Despite the challenges, Pakistan’s automobile industry has shown growth in recent years.”
Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Chairman Ashraf Sheikh said, “Following the entry of new players, the auto market will become highly competitive.”
He said that the competition is a healthy sign that will boost the economy, provide job opportunities and add diversity in the auto market.
Mr. Sheikh said, “When automakers turn towards local parts, it creates new jobs and promotes import substitution.”
Kia CEO Asif Rizvi said, “Kia will move towards localization as soon as it achieves economies of scale.”
Former Paapam chairman Shariq Suhail said, “New players have entered the market with investment worth billions of rupees, hence they are serious about business.”