Car sales surge 65 percent in first five months of FY 2015-16
800cc cars come second with a sale of 31,473 units
LAHORE (Dunya News) – Car sales in the last five months have surged by 65 percent owing to improved economic situation.
Dealers have said that car sale is on a persistent rise since past months. In first five months of the Fiscal Year (FY) 2015-16, 75,805 cars were sold with 15,724 in November alone.
In the same period of the last FY, 10,343 cars were sold.
Market sources gathered that people are most interested in cars above 1,300cc. At least 34,694 cars of 1,300cc power have been moved out of the shops in the last five months.
800cc cars come second with a sale of 31,473 units.
On the other hand, 1000cc vehicles failed to catch people’s attention as a rather disappointing figure of 9,638 was sold.
In early days of December it was reported that import of used cars will cost the buyers Rs 95,000 to Rs 2 lac more due to the revised regulatory duty imposed in bid to compensate low tax returns.
Federal Finance Minister had stated that duty has been revised only for import of luxury items.
Dar said that the government had to take few bitter steps in order to compensate less revenue collected through other taxes. However, he said that international organizations are also taking note of Pakistan’s better economical status.
He said that foreign organizations were hinting in 2013 that Pakistan would go bankrupt within few months. We embraced the challenge and took necessary steps to improve the economy, he added.
