![\"\"](\"http:\/\/umang.pk\/wp-content\/uploads\/2019\/10\/Auto-sector-sees-bleak-October-Newspaper.jpg\" "\\"\\"")
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KARACHI: After a sharp 39{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} overall drop in car sales during 1TF20, dark clouds continue to float over Japanese assemblers, as Honda Atlas Cars Pakistan Ltd (HACPL) will observe 16-18 days without production (NPD) in October, while Toyota & # 39; assembler vehicles also paints a bleak production picture.<\/p>\n
Market sources said the situation at HACPL is more alarming due to high vehicle prices, especially Honda Civic, than its competitors. Amid depressed demand, the company launched BR-V on Saturday with a minor model change (MMC) in an attempt to attract new buyers.<\/p>\n
HACPL had reduced business days to 11 in September compared to 13 in August and 20 in July. The company still has about 2,000 unsold vehicles in the plant and dealer network compared to 3,000 units last month, sources said.<\/p>\n
A Honda dealership in Karachi said the sales situation in the current month is almost similar to that of the previous month.<\/p>\n
Vehicle production in October at Indus Motor Company (IMC) would remain roughly equal to September data, IMC sources said, adding that the plant is operating in a single shift, which means less than 50 percent of production capacity.<\/p>\n
\nPlant stops increase<\/p>\n<\/blockquote>\n
BMI had observed 15 NPD during September compared to eight in July and 11-12 in August.<\/p>\n
Pak Suzuki Motor Company Ltd (PSMCL) also had a bad first quarter FY20 but so far it had not started any NPD from July to date despite suffering a massive 73{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} drop in WagonR sales in the first quarter of 2019- 20, as well as a drop in demand for other Suzuki vehicles.<\/p>\n
"Alto 660cc has kept PSMCL and its suppliers alive since July," said the suppliers that manufacture Alto parts.<\/p>\n
As a result of the change of buyers of WagonR and Cultus to Alto 660cc, the company had raised prices twice: first in August for Rs137,000-Rs138,000 on VXR and AGS models and then for Rs70,000-85,000 of 1 October .<\/p>\n
Already under stress, assemblers anticipate a slowdown in sales during the period from October to December, since customers, like the previous practice, generally avoid buying vehicles due to the change in the model year.<\/p>\n
Another reason for the fall in sales is the absence of car market investors. The Federal Revenue Board (FBR) is now more vigilant in caring for those who, without declaring their income, used to invest in cars to launder their black money.<\/p>\n
Sources said Toyota buyers also adopted a wait-and-see attitude toward Corolla 1,300cc that will be replaced by Yaris during the first quarter of 2020.<\/p>\n
Car prices had also gone beyond the reach of many people due to frequent increases in assemblers due to the collapse of the rupee against the dollar, the imposition of federal excise duties of 2.5-7.5pc on various engines and additional tariffs. on imports of raw material. Car financing was also reduced due to very high interest rates.<\/p>\n
Car assemblers and sellers said the government would face a shortage of Rs2bn tax collection per month due to the bleak sales situation. The government removes about 40{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} of taxes on the retail price of the car.<\/p>\n
Posted on Dawn, October 13, 2019<\/em><\/p>\n<\/p><\/div>\n<\/pre>\n<\/pre>\n
Source: https:\/\/www.dawn.com\/news\/1510585\/auto-sector-sees-bleak-october<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI: After a sharp 39{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} overall drop in car sales during 1TF20, dark clouds continue to float over Japanese assemblers, as Honda Atlas Cars Pakistan Ltd (HACPL) will observe 16-18 days without production (NPD) in October, while Toyota & # 39; assembler vehicles also paints a bleak production picture. Market sources said the situation at […]<\/p>\n","protected":false},"author":1,"featured_media":8074,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[11077],"tags":[],"class_list":["post-8073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newspaper"],"_links":{"self":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/8073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/comments?post=8073"}],"version-history":[{"count":0,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/8073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/media?parent=8073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/categories?post=8073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/tags?post=8073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}