Slump in auto-industry to deepen in first half of 2020

Slump in auto-industry to deepen in first half of 2020

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After a dip of closely 72% in automobile sales in the first half of 2019-20, investors in the auto-sector say the sector will continue to face a bumpy ride in January-June period of 2020.

Problems like high rates due to the federal excise duty ranging from 2.5% to 7.5% on engines of different horsepower, additional customs duty on raw material imports, exorbitant interest rates and stringent vigilance by the Federal Board of Revenue (FBR) still continue.

Nevertheless, January and February are considered better months for sales. People restart buying after suspending their purchases in November and December until a change in model.

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