Pakistan’s auto industry continued to face challenges in 2023, with car sales dropping by up to 55%. Additionally, production in factories manufacturing car parts was also slashed by 70 per cent.
Due to the crisis of exchange rates, car production was severely affected by a decline in income until last year. The reduced car sales not only impacted the national treasury but also led to a noticeable decrease in revenue from products.
Chairman All Pakistan Motor Dealers Association (APMDA), H.M Shahzad in recent interview shed light on the severity of the current situation in the auto sector.b Regarding the crisis in the auto industry, Shahzad stated that if the production or assembling of cars in the country continues at the current rate, the next two years will witness even worse conditions.—Agencies
