Category: Automotive

PkRevenue provides stories related to automotive industry. We focus on auto policy of Pakistan. The coverage also includes sales of domestic manufacturing.

  • Toyota stops car production in Russia

    Toyota stops car production in Russia

    Toyota on Friday decided to end car manufacturing at its Saint Petersburg plant in Russia.

    The company decided to end manufacture operation due to the interruption in supply of key materials and parts. Since then, the company have been closely monitoring the situation and evaluating the future sustainability of our business in Russia.

    During this period the company have fully retained our workforce and ensured our facility was ready to re-start production if the circumstances allowed. However, after six months, the company has not been able to resume normal activities and see no indication that the company can re-start in the future.

    The decision to terminate production of Toyota vehicles in Russia is not one that the company has taken lightly. Over the last 80 years the company has developed business and our brand with the support of stakeholders around the world.

    READ MORE: Honda to launch more than 10 electric motorcycles in 2025

    The company must now act in a way that allows us to protect the values and principles that our predecessors built up and be confident that the company can pass them on to the next generation.

    The company has also determined that our operations in Moscow need to be optimized and restructured―with the clear objective of retaining an effective organization to continue supporting the retail network in providing ongoing service to existing Toyota and Lexus customers in Russia.

    The company would like to thank our employees for their hard work and loyalty. In recognition of their valued contribution, the company will be offering them assistance for re-employment, re-skilling and well-being, including financial support above legal requirements.

  • Honda to launch more than 10 electric motorcycles in 2025

    Honda to launch more than 10 electric motorcycles in 2025

    JAPAN: Honda Motor Company announced to launch electric motorcycles in 2025. The company is putting efforts for carbon neutrality by less consumption of carbon.

    Motorcycles are used all over the world for a wide range of purposes which are often more demanding than for automobiles. Therefore, realizing carbon neutrality for motorcycles will require a multifaceted approach. Here is how Honda, the world’s largest motorcycle manufacturer with cumulative motorcycle production of over 400 million units, will pursue carbon neutrality.

    Honda offers a full lineup of motorcycle models, ranging from compact-size commuter models such as scooters to large-size FUN models, which are sold all over the world in both emerging and advanced countries. They are being used under a wide variety of conditions, including in cold, hot and humid climates and even on unpaved roads and trails. In addition, economic situations vary significantly in different countries and regions, therefore people use motorcycles for many different purposes ranging from everyday transportation to recreational activities. As a result, the performance people expect of motorcycles are also diverse.

    READ MORE: Ferrari launches its first ever four-door car

    Especially in emerging countries, motorcycles, particularly commuter models, are in high demand as a vital means of mobility supporting people’s lives. However, electric motorcycles, which promise to contribute to CO2 reduction, have their own issues such as heavier vehicle weight and higher prices. Another factor that is making the popularization of electric motorcycles difficult is that demand for electric models depends largely on government regulations and incentives such as subsidies and tax credits and the availability of charging infrastructure in each respective country.

    Honda has led the motorcycle industry in environmental initiatives through a wide range of original technologies, such as its ultra-low fuel consumption engines for the Super Cub and other models. However, continuing on the same path will not be enough to realize the company-wide carbon neutrality goal.

    So, Honda will pursue the electrification of its motorcycle products while also continuing to reduce CO2 emissions from its ICE models. Striving to realize carbon neutrality for all of its motorcycle products during the 2040s, Honda will continue to lead the industry at the forefront of its environmental initiatives.

    Here is how Honda plans to work toward its carbon neutrality goal for motorcycle products.

    Electric motorcycles are classified into three categories according to their top speed: Electric Bicycles (EBs, 25km/h or lower), Electric Mopeds (EMs, 25 – 50km/h) and Electric Vehicles (EVs, 50km/h or higher).

    Currently, the size of the global electric motorcycle market is approximately 50 million units a year, and most of them are EMs and EBs in China. However, the market is gradually expanding in other countries as well. In India, for example, sales of EVs, alongside convenient and affordable EMs, is increasing dramatically due to the government’s policies to promote the pursuit of carbon neutrality. Anticipating such market expansion, Honda will introduce electric motorcycles that accommodate a wide range of customer needs.

    READ MORE: Ford unveils seventh generation of Mustang

    As for the advancement of ICE-equipped models, Honda will not only improve fuel efficiency but also introduce models that are compatible with carbon-neutral fuels.

    In addition to Brazil where Honda motorcycles compatible with flex-fuel (gasoline-ethanol blend fuels) are already available, starting in 2023, Honda will introduce flex-fuel models in India, one of the major motorcycle markets.

    Range, charging time and price are the issues that need to be addressed in order to popularize EVs. One solution is the standardization of battery swapping systems. The company believe that a battery swapping system is highly compatible with business uses, especially services such as the delivery of small packages, as those businesses have limited travel distance and distribution centers where battery swapping stations can be installed. Therefore, targeting business-use customers, Honda has introduced the Honda e: Business Bike series. These models are already in use by Japan Post, and the Vietnam Post has begun using them for its mail delivery service.

    As businesses are becoming more conscious of the environment, Honda is introducing its business-use EVs globally. In addition to postal service in Japan and Vietnam, Honda is also conducting joint trials with Thailand Post, and plans to begin production and sales of the Benly e: in Thailand this September.

    For personal use, Honda plans to introduce two commuter EV models between 2024 and 2025 in Asia, Europe and Japan. These models will feature unique added-value to accommodate the needs of the respective market. Moreover, envisioning the future market environment, how electric motorcycles will be used, and technological advancements likely to be made, Honda is exploring a range of future personal-use models including ones equipped with a power source besides swappable batteries.

    In the EM/EB categories, Honda’s strength lies in the fact that a local development operation which is capable of speedy development is already well established in China, the world’s largest EM/EB market. Honda plans to leverage such strength to introduce multiple models under its local joint venture brands. Moreover, with the expectation that demand for EM/EB models will increase not only in China but globally, Honda plans to introduce a total of five compact and affordable EM and EB models between now and 2024, in Asia, Europe and Japan, in addition to China.

    Beyond commuter bikes, Honda will actively develop electrified mid- and large-size sports bikes in the FUN category.

    Based on its FUN EV platform now being developed, Honda plans to introduce three large-size FUN EV models in Japan, the U.S. and Europe between 2024 and 2025. Honda will also introduce a EV model for young riders, which is designed to pass on the joy of riding to the next generation.

    To realize widespread adoption of these electric models, the issues of batteries and charging infrastructure need to be addressed.

    The key to electrification is the battery. Honda will make active use of all of its resources to ensure stable battery procurement. All-solid-state batteries, which are currently being developed for automobiles, will be one valid option for electric motorcycles. Honda will aim to equip its electric motorcycle models with all-solid-state battery as well.

    With regard to charging infrastructure, Honda has already begun its initiatives in many countries around the world, aiming to enhance the infrastructure through the utilization of Mobile Power Packs (MPPs) and battery sharing businesses.

    In Indonesia, Honda has established a joint venture aimed at the widespread adoption of a battery sharing service which utilizes MPPs and MPP-powered motorcycles. The JV is currently operating a small-scale battery sharing service in Bali. In India, Honda is planning to begin its battery sharing service for electric tricycle taxis (so-called “rickshaws”) by the end of this year, while also working with a local partner company toward the standardization of swappable batteries. Honda is also planning on similar initiatives throughout Asia.

    In Japan, ENEOS and the four major Japanese motorcycle manufacturers (Honda, Kawasaki, Suzuki, and Yamaha) jointly established Gachaco, Inc. in April 2020, planning to begin a motorcycle battery sharing service this fall.

    Furthermore, Honda is also participating in battery consortiums in Japan and Europe aiming to standardize battery and swapping system specifications. Honda is taking a proactive approach to standardization in each region. For example, in Japan, major motorcycle manufacturers have agreed on mutual use of swappable batteries and their systems, and in India, Honda is working with its local partner company to facilitate the standardization of swappable batteries.

    Through this process of motorcycle electrification, Honda will offer products with new value by leveraging the high level of compatibility of software technology and electrified models, which the company believe will unlock the future of motorcycles.

    For example, starting with models which will go on sale in 2024, Honda aims to offer user experience (UX) features that continuously enrich the quality of riding through connectivity, such as offering optimal route options that take into consideration the remaining range, charging spot notification, safe riding coaching and after-sales service support.

  • Ferrari launches its first ever four-door car

    Ferrari launches its first ever four-door car

    Ferrari launched its first ever four-door car in the company’s history namely Ferrari Purosangue. The car is powered by a V12 naturally-aspirated engine, the hallmarks of the Prancing Horse’s most powerful sports cars are present and correct, this time coupled with practicality and a raised driving height.

    The car is named Purosangue after the Italian for ‘thoroughbred’, the car has been the subject of rumour and conjecture for many years, as the public and media alike speculated on what Maranello might have up its sleeves.

    One feature of design that is likely to have everyone talking is the fact that the Purosangue features rear-hinged passenger doors, or welcome doors, crafted in order to allow people to get in and out of the car as smoothly as possible without needing to increase the size of the vehicle.

    Elsewhere, customers will find the largest boot ever on a Ferrari, heated seats front and back and a Burmester high-end audio system as standard.

    Four-wheel drive, front-engine glory, with more power than any other car in the Crossover segment. Designed to be as aerodynamic as possible, the Purosangue features a raft of innovations, from the latest in vehicle dynamic control systems to the world debut of Ferrari active suspension technology using Multimatic’s True Active Spool Valve (TASV) System.

    The performance numbers are staggering; 0-62mph is seen off in just 3.3 seconds, while the Purosangue will rocket from 0-125mph in an incredible 10.2 seconds.

    The 6.5 litre, V12 engine has been painstakingly designed to offer the driver a seemingly never-ending amount of power under their right foot, with the eight-speed, dual clutch transmission and cylinder heads derived from the fearsome 812 Competizione. The soundtrack produced is nothing short of jaw-dropping.

    Sustainability was key for Ferrari in designing the Purosangue, in fact, 85 percent of the launch trim for the car was sustainably produced: the fabric roof-lining is made from recycled polyester, the lush carpet is made from polyamide recycled from fishing nets salvaged from the oceans and newly formulated Alcantara, is also derived from recycled polyester.

  • Ford unveils seventh generation of Mustang

    Ford unveils seventh generation of Mustang

    DETROIT, Michigan: Ford Motor Company on Wednesday unveiled the seventh generation of Mustang. The seventh generation is the most exhilarating and visceral yet, from its fighter jet-inspired digital cockpit to new advanced turbocharged and naturally aspirated engines to its edgier yet timeless exterior design.

    The new Mustang adds another chapter to an icon, delivering the looks, sound and appeal of the world’s best-selling sports coupe for seven years running. Whether convertible or coupe, V8 or turbocharged 4-cylinder, manual or automatic, Mustang has options at multiple price points and performance levels.

    The fighter jet-inspired cockpit offers the driver two flowing and curved displays that can be quickly customized to show information the driver wants or needs to see.

    When choosing personalized drive mode settings, the car’s current setup is displayed on the center stack as real-time graphical renderings. Settings can be adjusted by simply swiping the graphic to rotate the car virtually in true gamified style. 

    Mustang’s default instrument gauge setting has shifted from traditional, cool blue and light grey tones to an ultra-modern, copper appearance theme also shared with Mustang Mach-E. From there, almost everything in the displays – and the ambient interior lighting – can be configured to selected tones, while instrument clusters adapt to drive mode selection.

    This digital instrument cluster can be optionally configured to flow seamlessly into a 13.2-inch SYNC® 4 center stack behind a single piece of integrated glass that’s angled toward the driver.  

    Beyond the screen, an all-new race-inspired flat-bottomed steering wheel provides more space when getting seated.

    Outside the vehicle, animated welcome lighting greets drivers as they approach and, upon entry, Mustang splash screens come to life. And for those who enjoy the sound of a revving engine, Mustang introduces Remote Rev, providing the ability to rev the car’s engine remotely using the key fob. 

    Mustang has a standard cloth interior featuring all-cloth seats with optional Micro Suede vinyl inserts and black seat belts, while Premium models benefit from upgraded wrapped and accent stitched across the instrument panel and door trim. EcoBoost models feature Ford’s ‘ActiveX’ synthetic leather upholstery with multiple color options, while GT models gain leather seat inserts.

    Higher series models offer an upgraded, full-leather steering wheel, as well as a choice of color accent stitching and a unique upholstery perforation across the seat inserts, complemented by color-coordinated, asymmetric accent striping on the seat belts.

    The center console can also incorporate an available wireless mobile phone charging pad while new overhead USB ports are installed above the cockpit, conveniently placed for track cameras and other devices, helping prevent wires from draping across the cabin.

    The available B&O Sound System is optimized for the car’s interior, contributing to the visceral experience of Mustang ownership. Customers can share the ultimate driving playlist through Apple CarPlay and Android Auto, both of which are fully compatible with SYNC 4.

    Amazon Alexa Built-In with Ford Streaming allows music and podcasts to be played with simple voice commands. Like the all-electric Mustang Mach-E SUV, the all-new Mustang features Ford Power-Up software update capability.

    The seventh generation adds modern chiseled looks to its heritage-inspired design, which sets out to appeal to the broadest Mustang customer mindset yet.  

    Its low, horizontal brow across the front emphasizes overall frontal width, while the upper grille design shape is influenced by the original 1960s design. The Tri-Bar LED headlamps continue the Mustang’s classic lighting signature. Its sleek roofline, broad sprinting stance and shortened rear overhang are also true to the authentic proportions of the first generation, while the widened rear haunches point to the power over the wheels in true Mustang style. 

    The roofline is optimized for driver entry and exit without removing their helmet on the track, and an extended rear deck houses a new crisp signature tri-bar lighting and redesigned diffuser for improved aerodynamic balance in the rear.

    Each model in the Mustang lineup carries its own unique front end. GT is differentiated from EcoBoost models by larger, more aggressive grille openings, engineered to allow increased airflow, reflecting the increase in power and performance. The car’s aerodynamics are optimized further with the addition of new hood vents and redesigned front splitter.

    “Both the EcoBoost and Mustang GT have unique styling cues that deliver on their promise of Mustang Performance,” said Christopher Walter, Ford Mustang design manager. “The new Mustang is more chiseled and edgier, leaning into Mustang’s classic brawniness and timelessness.”

    Mustang convertible continues its drop-top legacy offering maximum open-air freedom. A simple, one-touch activation with a single-handle center latch opens and closes the fully lined and insulated fabric roof. The compact roof design and independent rear suspension also contribute toward segment-leading trunk space that can accommodate up to two golf bags.  

    The all-new Mustang launches with 11 exterior color options including two new shades, Vapor Blue and Yellow Splash, complemented by new stripe colors and designs. Customers also can choose from three Brembo brake caliper color options: Black, Red and Grabber Blue, plus an all-new lineup of alloy wheels, ranging from 17-inch standard size on base models to 19-inch for GT with optional 20-inch alloy wheels.

    New for the 2024 model year is the Mustang Design Series, providing further customization options straight from the factory. The Bronze Design Series Appearance Package adds Sinister Bronze alloy wheels with bronze badges, and is available on both EcoBoost and GT models, with or without the optional Performance Pack. 

    The way Mustang looks, drives and sounds is key to the experience that makes customers want to get in the driver’s seat and hit the road. The all-new Mustang delivers an even more exciting drive experience with new and advanced engine technologies.

    It starts with Mustang GT, now powered by an advanced, 5.0-liter Coyote V8 engine. The fourth-generation 5.0-liter is set to deliver the most naturally aspirated horsepower of any Mustang GT thanks to an innovative dual air intake box and dual-throttle body design, that helps minimize induction loss by enabling higher air flow rates.

    “This is the most athletic and confidence-inspiring Mustang EcoBoost and GT to drive yet,” said Ed Krenz, Ford Mustang chief nameplate engineer. “Whether driving an automatic or manual transmission, thanks to drive modes combined with fine-tuned digital engine, suspension and steering controls, we’re now able to give drivers peak performance everywhere, from their favorite roads to their local track.”

    Ford has saved the manual transmission for a new generation and the 5.0-liter V8 continues to offer a standard six-speed manual transmission for customers who want an uncompromised connection to eight-cylinder power. Ford’s advanced 10-speed automatic transmission is available, and it almost instantaneously reconfigures its shift patterns to match the selected drive mode.

    Customers who desire Mustang’s fun-to-drive feeling with fuel efficiency benefits can opt for the EcoBoost model, powered by an all-new, four-cylinder turbocharged 2.3-liter powertrain.

    The feeling of freedom and confidence Mustang instills in its drivers is amplified when they take control of how the car behaves.

    On a twisty back road or a weekend track day, the driver can quickly adjust steering effort, engine response, and transmission and electronic stability control settings through six available Drive Modes to create the perfect Mustang at any time. These are Normal, Sport, Slippery, Drag, Track plus a customizable setting with up to six individual profiles, tailored to the driver’s view ahead of them. As each mode is selected, high-fidelity graphics in the digital instrument panel bring the mode to life.

    Mustang GT and EcoBoost models are both available with an optional Performance Pack, which adds a host of track-focused features, including a front Tower Brace, Torsen® Limited Slip differential and optional MagneRide active suspension, wider rear wheels and tires, and larger, 390-millimeter front and 355-millimeter rear Brembo brakes. The GT Performance Pack adds brake ducts for even more enhanced cooling and a standard auxiliary engine oil cooler. Performance Pack also offers optional Recaro® seats and active exhaust.

    Mustang GT with manual transmission includes standard rev-matching that helps hold engine RPM when the clutch is engaged. This retains peak torque between manual gear changes, delivering even more precision, thrill and better refinement.  

    Quicker steering ratios and minimal compliance from steering wheel to tire significantly enhances the car’s cornering dynamics, with increased straight-line power.

    A segment-first electronic drift brake takes new technology to the racetrack, unlocking the rear-wheel-drive drifting capability of Mustang with the visual appeal and functionality of a traditional, mechanical hand brake. The Performance Electronic Parking Brake comes standard with the Performance Pack on all Mustang models, engineered for novice drivers to learn and improve their drift skills while also providing expert drivers with a competition-ready system.

    The new Mustang comes equipped with Ford Co-Pilot360™ features, including Speed Sign Recognition, Intelligent Adaptive Cruise Control with Stop-and-Go, Lane Centering Assist, Evasive Steer Assist and Reverse Brake Assist. Another key feature is Active Pothole Mitigation, included with the Performance Package, which continually monitors suspension, body, steering and braking input and adjusts suspension response accordingly.

    Owners can stay connected with their car via the FordPass™ app in other ways, utilizing free remote features such as remote vehicle start and stop, door locking and unlocking, scheduling a start time, locating the vehicle, and vehicle health and status checks. The FordPass app provides important vehicle information available to users, including fuel and oil levels, service history and warranty information. 

    The all-new Mustang goes on sale in the U.S. starting in the summer of 2023 and is assembled at Flat Rock Assembly Plant in Flat Rock, Mich.

  • Suzuki Pakistan launches new Alto VXR

    Suzuki Pakistan launches new Alto VXR

    KARACHI: Suzuki Pakistan launched the all new Alto VXR with improved controls, better fuel efficiency, optimal power-to-weight ratio and a spacious body. The car has been designed as an excellent hatchback car offering its young audience enhanced performance, quality and reliability.

    The all new Suzuki Alto is revving up to add pace in life. From economy to aesthetics and from spaciousness to technology, the new model gives you everything in one car, so that you are in control of life. The all new Alto offers an exuberant experience for the young generation and also for those who are young at heart.

    The aerodynamics design with unique lines and curves gives the car a young and vibrant look. The design of all the panels, the wheelbase and the cabin will certainly please your senses. The aesthetically designed door panels accentuate the richness of the sharp design as well as gives the car a lively appearance.

    The unique rear and design inspires a moment of awe and appreciation. The back door emphasizes the shape of the rear end while the tail lamps fitted in the rear bumper complete the compact design. The all new Alto comes in a variety of colors and you might find it difficult to settle for a choice.

    The all new Alto is the perfect blend of form and function. Whether you are looking for convenience or liveliness, this car has everything for you. All the lines and panels, the front mask and the interior are stylishly set while the headlamps in a bold design instantly grab your attention.

    With the improved R series engine (R06A Type), high power-to-weight ratio, increased strength and the aerodynamic shape, the all new Alto is a highly reliable and fuel-efficient hatchback vehicle.

    The all new Alto has a 660cc three-cylinder petrol engine known as the R06A. Whether you are driving through streets full of traffic or cruising up the highway, this highly efficient engine provides you with the power, reliability, fuel economy and control you need.

    The innovative transmission system minimizes torque loss, providing smooth transition and acceleration through all of its five gears. The setting of clutch and ECU/ECM optimizes the control operations of the engine’s working and contributes to better fuel efficiency.

    The all new Alto is a highly efficient performance car that makes your daily shopping and outings a pleasant experience. Spacious cabin and storage accessories of the new model ensure complete comfort for you and your family.

    The all new Alto offers sufficient storage space with additional console drink holders that are a part of the standard offering.

    A luggage under the box offers storage space of umbrellas and other objects.

    The dashboard panel has an integrated media player with a touch screen that you can conveniently use while driving. It has screen mirroring option, Bluetooth calling, auxiliary cable and USB support functions.

    When the immobilizer engine is started, the ID code on the portable remote control side and the vehicle side is electronically authenticated. The engine will not start of there is no match and the immobilizer will effectively suppress vehicle theft.

    During sudden braking on slippery surfaces, four-wheel Anti-lock Brake System (ABS) is activated. It prevents tyre locks, stabilizers the car body, and helps handle obstacles by steering. Furthermore, it is equipped with an Electronic Brake force Distribution ER Impact Mitigation Structure (EBD) that automatically helps maintain control by sending the optimum amount of force to the front and rear wheels.

    When the security alarm system is activated and the door is unlocked by an operation other than the request or keyless entry, a hazard theft alarm and a horn alert you.

  • Pakistan car sales plummet by 50% on import restriction

    Pakistan car sales plummet by 50% on import restriction

    KARACHI: Pakistan car sales have plummeted by 50 per cent during first two months (July – August) 2022 owing to condition imposed for import of Completely Knocked Down (CKD) units.

    According to statistics released on Tuesday, the sales of major players fell to 23,498 units during first two months of the currency fiscal year as compared with 46,565 units in the same period of the last year.

    READ MORE: Pakistan car sales drop 59% in July 2022

    Analysts at Topline Securities said that to save foreign exchange reserve, automakers were allowed to import only 50 per cent of their average imports over the last four months in July 2022. The quota has increased to 60 per cent for August 2022 and 70 per cent for September2022.

    Auto sales are also down by 46 per cent YoY in August 2022 amid escalating car prices, expensive auto financing, and low purchasing power of consumers. This takes car sales to 23,498 units down 50 per cent during first two months of the current fiscal year YoY from 46,656 units.

    READ MORE: Pakistan car sales surge 54 per cent in FY22

    Pakistan car sales (including sales of Non-PAMA members) clocked in at 14k units down 2 per cent MoM primarily due to unavailability of CKD parts which led to non-production days by auto manufactures.

    Pakistan Suzuki Motor Company (PSMC) sales was down 41 per cent MoM to 3,954 units in August 2022 due to plant closure amid unavailability of CKD parts. Honda Atlas Car (HCAR) also recorded decline of 29 per cent MoM to 1,809 units in Aug-2022 led by decline in sales of City and Civic by 40 per cent MoM.

    Indus Motors (INDU) posted increase of 63 per cent MoM to 3,876 units in Aug-2022 from 2,375 units in July 2022. Interestingly, Hyundai sales increased to 1,929 units in Aug 2022 as compared to 201 units in July 2022 led by up-tick in Tuscon sales primarily due to low base.

    READ MORE: Toyota unveils all new Crown for first time

    Amongst Tractors, Millat Tractors (MTL) recorded increase of 153 per cent MoM and 27 per cent YoY to 2,556 units. Al Ghazi Tractors (AGTL) recorded sales of 1,420 units, up 14 per cent MoM and 9 per cent YoY.

    Pakistan bike sales were up by 5 per cent MoM while down 32 per cent YoY in August 2022. Atlas Honda (ATLH) recorded sales of 85K units up 6 per cent MoM while down 15 per cent YoY.

    Trucks & Buses sales were up 24 per cent MoM while down 43 per cent YoY to 341 units in August 2022 primarily due to drop in transportation activities amid floods and slow down in overall economy.

    READ MORE: Honda Motors to start pre-orders of ZR-V SUV by September 2022

  • Audi raises car prices in Pakistan

    Audi raises car prices in Pakistan

    KARACHI: Audi has increased the car prices in Pakistan which are applicable in Pakistan from September 09, 2022.

    Following are the new rates of Audi cars in Pakistan.

    Audi e-tron 50, the price has been increased to Rs32.45 million from Rs17.20 million, showing an increase of 15.25 million.

    Audi e-tron 55, the price has been increased to Rs38 million from Rs21 million, showing an increase of Rs17 million.

    Audi e-tron SB, the price has been increased to Rs36.15 million from 19.40 million, showing an increase of Rs16.75 million.

    Audi e-tron GT, the price has been increased to Rs48.33 million from Rs21.15 million, showing an increase of 27.18 million.

    Audi RS e-tron GT, the price has been increased to Rs68 million from Rs29.6 million, showing an increase of 38.41 million.

  • Suzuki Motor announces further plant shutdown in Pakistan

    Suzuki Motor announces further plant shutdown in Pakistan

    KARACHI: Pak Suzuki Motor Company Limited has announced further plant shut down due to shortage of raw material following restriction imposed by the central bank.

    The company in a communication sent to Pakistan Stock Exchange (PSX) on September 06, 2022, stated that the State Bank of Pakistan (SBP) had introduced a mechanism for prior approval for import under HS Code 8703 category including CKD through a circular No. 09 of 2022 dated May 2022.

    READ MORE: Suzuki Motor Pakistan continues plant shutdown

    Restriction had adversely impacted clearance of import consignment which resultantly affected the inventory levels, the company added.

    Therefore, due to shortage of inventory level, the management of the company has decided to shut down period of automobile plant till September 09, 2022.

    “However, due to continued shortage of CKD raw material, management decided to extend the shutdown of automobile plant from September 12, 2022 to September 16, 2022,” the company said, added that the motorcycle plant will remain operative.

    READ MORE: Suzuki Motors extends plant shutdown in Pakistan

    “Further, in lieu of periodic maintenance, the automobile plant will also be shut down from September 19, 2022 to September 23, 2022. However, motorcycle plant will remain operative,” it added.

    Pak Suzuki Motor Company Limited is facing severe shortage of raw material for the past couple of months. Previously, the company announced a temporary shutdown of its production plant due restriction on imports imposed by the government.

    READ MORE: New prices of Suzuki cars in Pakistan from August 16, 2022

    It stated that State Bank of Pakistan (SBP) had introduced a mechanism for prior approval for import under HS Code 8703 category (including CKDs) vide Circular No. 09 of 2022 dated May 20, 2022. “Restriction had adversely impacted clearance of import consignment which resultantly affected the inventory levels,” it added.

    READ MORE: Suzuki Motors warns plant shutdown in Pakistan

    The company further stated that due to shortage of inventory level, the senior management of the company had decided to temporarily shut down its production plant of automobile products from August 18, 2022 to August 19, 2022.

  • Honda plans to launch 30 models of electric vehicles

    Honda plans to launch 30 models of electric vehicles

    TOKYO, Japan: Honda Motor Co., Ltd. (Honda) is planning to launch 30 models of Electric Vehicles globally by 2030, according to a statement issued on Tuesday September 6, 2022.

    The company on Tuesday announced that it has established a strategic partnership with Hanwa Co., Ltd. (Hanwa), a major Japan-based trading company, toward stable procurement of essential metals for batteries necessary for its electrified vehicles.

    READ MORE: Suzuki donates 10 million yens for Pakistan flood victims

    To realize carbon neutrality for all of its products and corporate activities by 2050, Honda is striving to make battery-electric vehicles (EVs) and fuel cell electric vehicles (FCVs) represent 100% of its global vehicle sales by 2040.

    Toward this target, Honda is planning to launch 30 EV models globally by 2030 with production volume of more than 2 million units annually.

    READ MORE: Honda Motor reveals 92% growth in production worldwide

    For steady execution of its electrification strategy, Honda established a strategic partnership with Hanwa, a major trading company that has strengths in the field of resource procurement.

    Through this partnership, Honda will ensure stable procurement in the medium to long term, of essential metals necessary for batteries such as nickel, cobalt and lithium, positioning the mined resources secured by Hanwa at the core.

    READ MORE: Indus Motor halts production of Toyota vehicles in Pakistan

    Honda will continue working with a wide range of suppliers to ensure stable supply of necessary resources, that will enable Honda to steadily execute its electrification strategy leading to the realization of Honda’s carbon neutrality goal.

    READ MORE: Toyota Indus Motors announces plant shutdown

  • Suzuki donates 10 million yens for Pakistan flood victims

    Suzuki donates 10 million yens for Pakistan flood victims

    JAPAN: Suzuki Motor Corporation on August 31, 2022 announced to donate 10 million yens to provide the support to flood disaster in Pakistan.

    The statement issued by the company stated that, Suzuki Motor Corporation would like to express our sincere condolences to those who lost their lives in the floods caused by the heavy rains in Pakistan and offer our heartfelt sympathy to all those affected by the floods.

    Suzuki Group has decided to donate 10 million yen as support to the flood disaster in Pakistan.

    We wish the people in the affected areas a speedy recovery.

    The torrential rains and flash floods across Pakistan have inflicted an estimated loss of $10 billion to the national economy.

    READ MORE: SBP issues IBAN list for donations to PM flood relief fund

    Federal Minister for Finance and Revenue Miftah Ismail on Thursday said the current devastation of flood in Pakistan is estimated to cost $10 billion.

    During flood, railway lines, roads, bridges, grid stations, power lines and houses etc. were badly damaged, which has to be rehabilitated, the minister added.

    The minister said that the United Nation has made a commitment of $160 million and USAID has announced the provision of 30 million dollars.

    State Bank of Pakistan (SBP) has issued a list of IBAN (International Bank Account Number) of Prime Minister Flood Relief Fund 2022 maintained by commercial banks.

    READ MORE: SBP opens account for Balochistan Flood Relief, Rehabilitation Fund

    Following is the list of banks and IBAN:

    01. Allied Bank Limited (ABL), Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK58ABPA001009849790015

    02. Albaraka Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK11AIIN0000150583517016

    03. Askari Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK82ASCM0000020100579916

    04. Bank Alfalah Limited, Title of Account # Prime Minister’s Flood Relief Fund Account-2022, IBAN PK60ALFH0005001007990397

    05. Bank Al Habib Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK32BAHL1001186690500301

    06. Bank Islami Pakistan Limited, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND ACCOUNT, 2022, IBAN PK02BKIP0100339720620001

    07. Bank of China, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK37BKCH0100002600005375

    08. Bank of Khyber, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK66KHYB0001002008277365

    09. Bank of Punjab, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK52BPUN6010000181500176

    10. Citi Bank, Title of Account PRIME MINISTER’S FLOOD RELIEF FUND, IBAN PK28CITI1000000103660009

    READ MORE: SBP issues instructions to banks for flood relief donation awareness

    11. Dubai Islamic Bank Limited, Title of Account # PRIME MINISTER FLOOD RELIEF FUND 2022, IBAN PK22DUIB0000000807647001

    12. Faysal Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK97FAYS3554Z17000001562

    13. FINCA Microfinance Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK25FINC0223183643011000

    14. Habib Metro Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK58MPBL0101027140665909

    15. Habib Bank Limited, Title of Account # PM’s Flood Relief Fund Account, 2022, IBAN PK43HABB000042792244003

    16 Habib Bank Limited Microfinance Bank, Title of Account # PRIME MINISTERS FLOODRELIEF FUND, 2022, IBAN PK62FMFB0021012862868015

    17. ICBC, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK76ICBK0010000000239638

    18. JS Bank, Title of Account # PRIME MINISTER’S FLOOD ACCOUNT 2022, IBAN PK56JSBL9001000002029796

    19. Khushhali Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK85khbl0000012075443288

    20 MCB, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK13MUCB0729483241037873

    READ MORE: Tax exemption granted to donations for PM flood relief fund

    21. MCB Islamic Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK58MCIB0351004196150001

    22. Meezan Bank Limited, Title of Account Prime Minister’s Flood Relief Fund Account, IBAN PK39MEZN0001540107020124

    23. National Bank of Pakistan, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK92NBPA0002004181048973

    24. NRSP Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK60NRSP0000020010002760

    25. Samba Bank, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND, 2022, IBAN PK83SAMB0000002000117199

    26. Silk Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK68SAUD0000012010847043

    27. Sindh Bank, Title of Account # PRIME MINISTER’S FLOOD RELIEF FUND ACCOUNT,2022, IBAN PK21SIND0003016411713500

    28. SME Bank, Title of Account # PRIME MINISTER’s RELIEF FUND, 2022, IBAN PK16SMES1001000664000001

    29. Soneri Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK81SONE0000220010110875

    30. Standard Chartered Bank, Title of Account Prime Minister’s Flood Relief Fund 2022, IBAN PK75SCBL0000001701259101

    31. Summit Bank, Title of Account # PRIME MINISTERS FLOOD RELIEF FUND ACCOUNT -2022, IBAN PK57SUMB0201027140181164

    32. U Microfinance Bank, Title of Account # Prime Minister’s Flood Relief Fund Account, 2022, IBAN PK26UMBL0107000093500096

    33. United Bank Limited, Title of Account # Prime Minister’s Flood Relief Fund 2022, IBAN PK86UNIL0109000286613095