Pakistan’s automobile industry has remained an oligopoly for the better part of the past four decades, dominated by what has been dubbed the ‘big three’. A comprehensive auto policy was introduced by the previous government in 2016 to address these issues to not only provide customers better options but also generate FDI for the government and in turn, much –needed economic activity as well. The industry has however bounced back, recording a 44% increase in car sales year-on-year in January alone with a clear expectation that demand will grow stronger in the coming months. The variants being introduced in the country by new entrants have started to fill in those gaps, which is a welcome relief for consumers looking for cars in limited budgets. Although it will take time for the country’s auto sector to truly become a buyer’s market, the policy in place currently is a good first step that puts the customer first.

Source: Pakistan Today March 01, 2021 16:18 UTC