Budget 2019 20 Automotive Sector1 808x454

Double-digit growth of 23.4% for Pakistan’s automobile sector

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 From July 2020 to March 2021, the automobile sector of Pakistan has posted a double-digit growth of 23.4%. The State Bank of Pakistan has mentioned in the quarterly report that growth shows a significant increase of 37.7% when compared to last year’s statistics of the same time.

 

The automobile sector has witnessed growth as the cars improved by 24.7% and motorcycles by 20.3%. Moreover, a few factors contributed it this substantial growth such as low-interest rates, the launch of new models, and stability in automobile cost.

Furthermore, tractors have improved by 57.5% and LCVs by 30.2%. The consumer financing which is now registered at Rs 73.6 billion, stood at Rs 3.2 billion last year.

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