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Category: Automotive

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

  • Pakistan Customs auctions imported vehicles on Dec 14

    Pakistan Customs auctions imported vehicles on Dec 14

    KARACHI: Pakistan Customs has announced an auction of a huge lot of fresh and old imported motor vehicles on December 14, 2021 at Airport Road Quetta.

    The customs authorities will present following vehicles for the auction:

    01. Honda Civic, Chassis No. FD3-1102984, Engine No. not traceable (N.T), Model 2006

    02. Toyota Premio Car, Chassis No. NZT240-0092059, Engine No. N.T, Model 2006

    03. Toyota Passo Car, Chassis No. KGC10-0032340, Engine No. N.T, Model 2004

    READ MORE: Direct submission of documents at WeBOC allowed

    04. Suzuki Alto Car, Chassis No. HA23S-682004, Engine No. N.T, Model 2002

    05. Suzuki kei, Chassis No. HN22S-883169, Engine No. K6A, Model 2008

    06. Toyota Pickup, Chassis No. YN57-0033880, Engine No. 4Y0014049, Model 1985

    07. Toyota Pickup, Chassis No. LN560-111926, Engine No. N.T, Model 1987

    08. Hino Truck, Chassis No. JHDGHI-JRPXXX10925, Engine No. N.T, Model 1999

    09. Hino Truck, Chassis No. JHDGH1JRPXXX10516, Engine No. N.T, Model 1999

    10. Toyota Premio Car, Chassis No. ZZT240-013871, Engine No. 1ZZFE, Model 2007

    11. Toyota Premio Car, Chassis No. ZRT260-3026626, Engine No. 2ZR-FE, Model 2007

    12. Toyota Pickup, Chassis No. YN850040587, Engine No. N.T, Model 1992

    READ MORE: Pakistan Single Window to reduce time, cost, complexity

    13, Toyota Pick Up, Chassis No. JT731RN8509008497, Engine No. N.T, Chassis No. 1990

    14. Toyota Land Cruiser Prado, Chassis No. GRJ151-0003353, Engine No. 1GRFE, Model 2013

    15. Zamyad, Chassis No. 496696, Engine No. N.T, Model 1988

    16. Toyota Crown Car, Chassis No. AWS210-6022583, Engine No. 2AR-FSE, Model 2013

    17. Toyota Corolla GLI Car, Chassis No. JTDBT40EX09058387, Engine No. 1NZFE, Model 2007

    18. Toyota Hiace Van, Chassis No. TRH112-5000925 (as per labreport), Engine No. ITR-FE, Model 2003

    19. Mazda Truck, Chassis No. FD3HLA-25695, Engine No. HO7DA116215, Model 1991

    20. Hino Truck, Chassis No. FD3WJA-10572, Engine No. N.T, Model 1992

    21. Toyota Vitz Car, Chassis No. SCP13-0045049, Engine No. 2SZFE, Model 2004

    READ MORE: Pakistan, China sign protocol for onion quarantine

    22. Toyota Premio Car, Chassis No. ZZT240-0093212, Engine No. 1ZZFE, Model 2004

    23. Toyota Premio Car, Chassis No. ZZT240-0020016, Engine No. 1ZZFE , Model 2002

    24. Toyota Premio Car, Chassis No. ZZT240-0128367, Engine No. 1ZZFE, Model 2006

    25. Toyota Coster, Chassis No. JTGFH538604000226, Engine No. 15BFT, Model 2001

    26. Toyota corolla X car, Chassis No. NZE121-0401345, Engine No. 1NZ-FE, Model 2006

    27. Honda Civic Car, Chassis No. JHMFD46206S200351, Engine No. N.T, Model 2006

    28. Toyota Corolla X Car, Chassis No. NZE121-3116311, Engine No. N.T, Model 2002

    29. Toyota Mark X Car, Chassis No. GRX1211002280, Engine No. 3GRFSE, Model 2004

    30. Toyota Corolla X Car, Chassis No. NZE121-3323210, Engine No. 1NZFE, Model 2005

    31. Toyota Vitz Car, Chassis No. NCP91-0003341, Engine No. 1NZFE, Model 2006

    32. Toyota Premio Car, Chassis No. ZZT240-0125346, Engine No. 1ZZ-FE, Model 2006

    33. Mira Dahitsu Car, Chassis No. JDAL2015000031905, Engine No. N.T, Model 1994

    READ MORE: FBR sacks director customs audit on NAB conviction

    34. Toyota Corolla Car, Chassis No. EE90-0036489, Engine No. 2343412, Model 1991

    35. Toyota Premio Car, Chassis No. ZRT260-3025047, Engine No. N.T, Model 2017

    36. Carina Car (accidental & in poor condition), Chassis No. CT170-2038468, Engine No. 1946537, Model 1991

    37. Toyota Hiace Van (accidental & in poor condition), Chassis No. LH61G-0008339, Engine No. 2L-1668916, Model 1982

    38. Toyota Hiace Van (accidental & in poor condition), Chassis No. LH71B-0001253, Engine No. 2L-1043920, Model 1982

    39. Toyota Corolla Car (accidental & in poor condition), Chassis No. AE100-3209410, Engine No. N.T, Model 1993

    40. Toyota Hiace Van, Chassis No. JT721LHB3001 71861, Engine No. N.T, Model N.T

    41. Toyota Surf, Chassis No. TRN215-0002810, Engine No. N.T, Model 2004

    42, Toyota Vitz Car, Chassis No. SCP90-2067451, Engine No. 2SZFE, Model 2008

    43. Toyota Corolla Altis Car, Chassis No. ZZE121-9012994, Engine No. 3ZZFE, Model 2005

    44. Toyota Corolla Car, Chassis No. KE55-766143, Engine No. N.T, Model N.T

    45. Suzuki Swift, Chassis No. JSAEZC-21S0010314, Engine No. N.T, Model 2004

    46. Toyota Crown (Hybird), Chassis No. AWS210-6015001, Engine No. 2AR-FSE, Model 2013

    47. Toyota Land Cruiser Prado, Chassis No. VZJ195-0060970, Engine No. 5VZ-FE, Model 1999

    48. Daihatsu Mira Car, Chassis No. L250S-1089686, Engine No. N.T, Model 2005

    49. Toyota Crown Majesta, Chassis No. UZS186-0011118, Engine No. 3UZ-FE, Model 2004

    50. Toyota Premio Car, Chassis No. ZZT240-0061554, Engine No. N.T, Model 2003

    51. Toyota Land Cruiser, Chassis No. UZJ100-0117691, Engine No. 2UZFE, Model 2000

    52. Toyota Sprinter Car, Chassis No. CE96-0092582, Engine No. 1C, Model 1990

    53. Toyota Premio Car, Chassis No. ZZT240-0012752, Engine No. 1ZZFE, Model 2002

    54. Toyota Land Cruiser, Chassis No. FJ45-240316, Engine No. N.T, Model N.T

    55. Toyota Mark-X Car, Chassis No. GRX121-1005643, Engine No. 3GRFSE, Model 2005

    56. Toyota Mark-X Car, Chassis No. GRX120-0025640, Engine No. N.T, Model 2005

    57. Toyota Fielder Car, Chassis No. ZZE122-0014947, Engine No. N.T, Model 2000

    58. Toyota Land Cruiser, Chassis No. JT111TJ3207404810, Engine No. N.T, Model 1996

    59. Toyota Mark X Car, Chassis No. GRX120-0034825, Engine No. N.T, Model 2005

    60. Hino Trailer, Chassis No. FS3FKA-11822, Engine No. F20CE-17920, Model 1996

    61. Range Rover, Chassis No. SALLPAMJ3VA372646, Engine No. N.T, Model 1998

    62. Land Cruiser (Cygnus Bullet Proof), Chassis No. JTGCB09JX65002405, Engine No. N.T, Model 2006

    63. Toyota Land Cruiser Prado, Chassis No. VZJ121-0011459, Engine No. 5VZ-FE, Model 2005

    64. Nissan Jeep, Chassis No. JLR50-004992, Engine No. N.T, Model 1998

    65. Toyota Indus Corolla Car, Chassis No. CE104-0012730, Engine No. 3885934, Model 1994

    66. Mazda Truck, Chassis No. FD3HLA-16656, Engine No. N.T, Model N.T

    67. Toyota Mark-X Car, Chassis No. GRX120-0077315, Engine No. N.T, Model 2006

    68. Toyota Vitz Car, Chassis No. SCP13-0037555, Engine No. 2SZFE, Model 2004

  • Restrictions to up motor vehicle cost, reduce demand

    Restrictions to up motor vehicle cost, reduce demand

    KARACHI: The planned restrictions on automotive industry likely to increase the cost of motor vehicles and simultaneously to reduce the demand.

    According to analysts of Topline Securities on Auto Sector, the government is planning to introduce measures to control rising import bill of the country by imposition of increased duties on luxury items including cars. The proposals according to news reports include increase in duties on import of Completely Built Unit (CBUs) and higher Federal Excise Duty (FED) on locally manufactured vehicles.

    READ MORE: Pakistan’s car sales declines by 6% in October

    The proposed measures under consideration include: 1) increase in regulatory duty (RD) on electric vehicles with 50 KWH battery pack from 10 per cent to 50 per cent, 2) increase in custom duty to 50 per cent from 15 per cent on Hybrid Vehicles on 1501-1800cc cars, 3) increase in FED from 5 per cent to 10 per cent on locally manufactured cars with engine capacity of 1500cc+.

    The government has shelved the plan to impose ban on import of CBU and is likely to increase duties and taxes only to curtail rising import bill.

    To recall, Pakistan total imports surged by 65 per cent to $25bn in first four months of fiscal year 2021-2022, which led to a current account deficit of $5.1 billion versus surplus of $1.3 billion in same period of the last fiscal year.

    READ MORE: Ghandhara Nissan to launch Chery vehicles current fiscal

    Pakistan total transport group imports surged by 140 per cent to $1.5bn in first four months of the current fiscal year exerting pressure on total import bill of the country.

    It is pertinent to note that as per the Auto Policy of 2016-21, auto manufacturers were allowed to import 100 units of CBU for test marketing before they can start production of cars locally.

    This led to sharp rise in CBU imports and there are news reports of potential misuse of the policy as few new entrants have imported more than 100 units.

    READ MORE: Tax rates on motor vehicles during tax year 2022

    As per said news reports, around 7000 units MG HS by MG Motors have been delivered to the buyers since November 2020 till date whereas it local production of cars just started recently in May 2021.

    Similarly, import of other CBUs which includes Toyota Cross, Land Cruiser, Honda Accord etc have also led to higher import bill.

    It will be interesting to see how the concerned authorities address the issue as the old auto policy expired in June 2021 and we still await for the new policy.

    During the last fiscal year, used CBU imports clocked in at 21,247units whereas new CBU imports touched 6,394 units. The combined (old + new CBUs) contributed around 11 per cent of Pakistan car sales in the last fiscal year.

    READ MORE: Indus Motors posts 195% growth in net profit to Rs5.42bn

    The analysts said that latest numbers for the same are not available but looking at increased interest of new cars specially in the SUV segment we expect this number to be much higher in FY22.

    They believe the decision to increase regulatory duty on CBUs will result in high car prices and may result in reduced demand for imported CBUs by new entrants. It may also force the new entrants to start manufacturing vehicles locally.

    However, since the proposal to ban import completely is highly unlikely, the above stated measures are not likely be materially positive for local listed assemblers.

    Additionally, expected increase in Federal Excise Duty (FED) to 10 per cent from 5 per cent on 1500+cc locally assembled cars and rising KIBOR (Karachi Interbank Foreign Exchange Rate) is likely to impact car demand going ahead.

    READ MORE: SBP issues KIBOR rates on December 08, 2021

    Stringent regulatory measures by SBP on auto financing and rising KIBOR is likely to impact car sales going ahead. It is important to note that, auto-financing on average contribute around 30-40 per cent of the total car sales of the industry. In November 2021, Pakistan car sales are anticipated to drop by 10 per cent MoM owing to the above stated measures.

    The analysts expect Pakistan car sales to grow by 10 per cent in the ongoing fiscal year after a strong sales recovery in last fiscal year.

    They have an ‘underweight’ stance on Pakistan Auto Sector based on the premise of 1) rising kibor, 2) stringent auto-financing policies, 3) increasing cost pressures, 4) likely increase in FED, and 5) expected macroeconomic slowdown.

  • Ghandhara Nissan to launch Chery vehicles current fiscal

    Ghandhara Nissan to launch Chery vehicles current fiscal

    KARACHI: Ghandhara Nissan Limited on Tuesday announced to launch of Chery passenger vehicles in Pakistan during the current fiscal year.

    In a communication to Pakistan Stock Exchange (PSX), the company shred information which refers to the arrangements made between M/s. Ghandhara Nissan Limited and M/s. Chery Automobile Co. Limited – Wuhu, China (Chery) for the launch of Chery passenger vehicles in Pakistan.

    “With this note, we would like to appraise the stakeholders that as per the plans we look forward to launching chery SUVs during the current financial year.”

    The company is currently engaged in the pre-launch tasks of the project including the establishment of dealership network, modernization/up-gradation of plant infrastructure, marketing and supply chain activities.

    “We would update the stakeholders regarding the expected launch time of the vehicles in the near future,” the company added.

    About the Company: Ghandhara Nissan Limited was incorporated on August 8, 1981 in Pakistan as a private limited company and subsequently converted into a public limited company on May 24, 1992. The Company is a subsidiary of Bibojee Services (Private) Limited.

    The registered office of the Company is situated at F-3, Hub Chowki Road, S.I.T.E., Karachi. Its manufacturing facilities are located at Port Qasim, Karachi and regional offices in Lahore and Rawalpindi. The Company’s shares are listed on Pakistan Stock Exchange Limited.

    The principal business of the Company is assembly / progressive manufacturing of vehicles including JAC Trucks, import and sale of Nissan, Dongfeng and Renault vehicles in Completely Built-up condition and assembly of other vehicles under contract agreement. 

  • Customs I&I to auction old, used vehicles on Nov 17

    Customs I&I to auction old, used vehicles on Nov 17

    ISLAMABAD: Directorate General of Intelligence and Investigation (I&I) – Customs, Islamabad has announced to auction old and used importer motor vehicles on November 17, 2021, at State Warehouse G-12/4, Kashmir Highway, Islamabad.

    The directorate to hold the auction of the following imported motor vehicles:

    01. Toyota Vitz Car, model 2008, chassis No. KSP90- 0039537, engine capacity 997-CC

    02. Toyota Vitz Car, model 2007, Chassis No. 5CP90- 5076423, engine capacity 1300-CC

    03. Toyota Corolla-XE-Saloon Car, Model 2000, Chassis No. AE100- 5353956, Engine Capacity 1498-CC

    04. Honda Civic Car, Model 2008, Chassis No. 1I-IMFD36208 S206782, Engine Capacity 1339-CC

    05. Toyota Fielder Car, Model 2008, Chassis No. NZE141- 9083339, Engine Capacity 1500-CC

    06. Toyota Aqua Car, Model 2012, Chassis No. NHP10- 6083712, Engine Capacity 1500-CC

    07. Toyota Mark- X Car, Model 2005, Chassis No. GRXI21- 1007202, Engine Capacity 3000-CC

    08. Toyota Vitz Car, Model 2003, Chassis No.SCP13-0022928, Engine Capacity 1300-CC

    09. Toyota Corona Car, Model 2003, Chassis No. 513153-5BN00E052406, Engine Capacity 1990-CC

    10. Toyota Hilux Surf, Model 2005, Chassis No. R2N215- 0003755, Engine Capacity 2696-CC

    11. Toyota Premio Car, Model 2010, Chassis No. ZRT260- 3074708, Engine Capacity 1800-CC

    12. Honda Cross Road Jeep, Model 2007, Chassis No. RTI-1000765, Engine Capacity 1800-CC

    13. Toyota Fielder Car, Model 2005, Chassis No. NZE121- 0300935, Engine Capacity I500-CC

    14. Toyota Corolla XE-Saloon Car, Model 1995, Chassis No. AE110-5041078, Engine Capacity 1500-CC

    15. Honda Steed Bike, Model 1994, Chassis No. NC26-1152720, Engine Capacity 400-CC

    16. Honda Magna Bike, Model 1996, Chassis No. MC29-1013493, Engine Capacity 250-CC

    17. Suzuki Jimmy Jeep, Model 1998, Chassis No. 11333W-104476, Engine Capacity 1298-CC

    18. Toyota Mark-X Car, Model 2005, Chassis No. GRXI20-0030320, Engine Capacity 2499-CC

    19. Toyota Axio Feilder Car, Model 2009, chassis No. NZE4I- 9125000, engine capacity 1300-CC

    20. Toyota Prernio Car, Model 2009, Chassis No. ZRT261- 3009948, Engine Capacity 2000-CC

    21. Honda Accord CL9 24TL, Model 2004, Chassis No. CL9-105I264, Engine Capacity 2400-CC

    22. Mitsubishi Pajero GDI, Model 2000, Chassis No. 1477W-0205412, Engine Capacity I998-CC

    23. Toyota Hilux Surf, Model 1999, Chassis No. RZN185- 9032918, Engine Capacity 2700-CC

    24. Toyota Mark- X Car, Model 2006, Chassis No. GRXI20- 3045127, Engine Capacity 2500-CC

    25. Suzuki Swift Car, Model 2007, Chassis No. ZCI IS- 186101, Engine Capacity I300-CC

    26. Toyota Premio Car, Model 2005, Chassis No. ZZT240- 5040333, Engine Capacity I800-CC

    27. Suzuki Swift Car, Model 2016, Chassis No. ZC725-105019, Engine Capacity 1300-CC

    28. FJ Cruiser Jeep, Model 2011, Chassis No. JTEBUI1F20K120095, Engine Capacity 4000-CC

    29. Toyota Premio Car, Model 2005, Chassis No.  ZZT240- 0107683, Engine Capacity 1800-CC

    30. Toyota Vitz F Car, Model 2008, Chassis No. SCP90-2052650, Engine Capacity 1296-CC

    31. Honda Cross Road Jeep, Model 2007, Chassis No. RT2-1006248, Engine Capacity 1800-CC

    32. Honda Cross Road Jeep, Model 2009, Chassis No. RT2-100129I, Engine Capacity 1800-CC

    33. Toyota Rav-4, Model 1994, Chassis No. SXA10- 0016495, Engine Capacity 2000-CC

    34. Toyota Aqua Car, Model 2012, Chassis No. NHP10- 2117995, Engine Capacity 1500-CC

    35. Toyota Royal Saloon Crown Car, Model 2008, Chassis No. GRS200-0013088, Engine capacity 2500-CC

    36. Audi A6 Car, Model 2012, Chassis No. WAU7774G3CN008140, Engine Capacity 2800-CC

    37. Toyota Land Cruiser, Model 1999, Chassis No. VZ595-0065049, Engine Capacity 3378-CC

    38. Toyota Aqua Car, Model 2013, Chassis No. NHP 10- 2263906, Engine capacity 1500-CC

    39. Toyota Axio Car, Model 2006, Chassis No. NZEI41- 6015245, Engine Capacity 1500-CC

    40. Honda Civic Reborn Car, Model 2008, Chassis No. JHMFD36208S210839, Engine Capacity 1339-CC

    41. Toyota Prado Jeep, Model 1999, Chassis No. VZJ95-0093170, Engine Capacity 3378-CC

    42. Toyota Axio Car, Model 2006, Chassis No. NZE141-6002343, Engine Capacity 1500-CC

    43. Toyota RAV-4, Model 1997, Chassis No. SXA16-0022402, Engine Capacity 2000-CC

    44. Suzuki Alto Car, Model 2005, Chassis No. HA25V-709375, Engine Capacity 658-CC

    45. Toyota Vita Car, Model 2003, Chassis No. SCPI3-0010053 Model I296-CC

    46. Toyota Vitz Car, Model 2005, Chassis No. KSP90-5012239, Engine Capacity 1000-CC

    47. Suzuki Swift Car, Model 2014, Chassis No. ZC725-307324, Engine Capacity 1300-CC

    48. Toyota Hilux Pick Up, Model 2004, Chassis No. 11P135626400008531, Engine Capacity 2500-CC

    49. Honda Civic Car, Model 2003, Chassis No. BSI-1400838, Engine Capacity 1493-CC

    50. Mercedes Benz E-240 Car, Model 2002, Chassis No. WD82100622B482811, Engine capacity 2400-CC

    51. BMW Car, Model 2002, Chassis No. WBADE210X0BM83270, Engine Capacity 1990-CC

    52. Mercedes Benz Car, Model 1994, Chassis No. WD8I400322A114335, Engine Capacity, 3696-CC

    53. Mercedes Benz Car, Model 1994, Chassis No. WDB2020182F044548, engine Capacity 3696-CC

    Auction of 22 Toyota Corolla cars on November 15
  • Auction of 22 Toyota Corolla cars on November 15

    Auction of 22 Toyota Corolla cars on November 15

    KARACHI: Directorate of Transit Trade, Pakistan Customs will auction a huge number of old and used 22 Toyota Corolla cars on November 15, 2021 at Pakistan International Container Terminal, Karachi Port Trust (East Whart).

    The directorate to offer auction of following motor cars:

    01. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASSIS/VIN# JT2AE94K4L3352743, MODEL 1990 (AS PER ONLINE VERIFICATION)

    02. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASSIS/VIN# INXAE94A9NZ382361, MODEL 1992

    03. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASSIS/VIN# INXBB02E5VZ566968, MODEL 1997

    04. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASSIS/VIN# JT2AE00E2P0033246, MODEL 1993

    05. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASSIS/VIN# JT2AE04E4P0023098, MODEL 1993

    06. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXAE09B9RZ1708236, MODEL: 1994

    07. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXBA02E1TZ381106, MODEL: 1996

    08. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# JT2EB02E3T0109901, MODEL: 1996

    09. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR#JTDBR32E442020187, MODEL: 2004

    10. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXBA02E4VZ567841, MODEL: 1997

    11. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXBA02E5VZ541572, MODEL: 1997

    12. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXAE09B4SZ324179, MODEL: 1995

    13. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# 2T1AE09E6PC036103, MODEL: 1993

    14. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXAE04B7SZ285529, MODEL: 1995

    15. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXBRI2E8YZ368374, MODEL: 2000

    16. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# 2T1AE94AXNC191646 MODEL: 1992

    17. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXAE91AXNZ380901 MODEL: 1992

    18. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# 2T1BA02E8TC115096 MODEL: 1996

    19. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# 2T1AE04B8RC028875 MODEL: 1994

    20. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# 2T1AE0BB6RC078859 MODEL: 1994

    21. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# INXBB02E4TZ360182 MODEL: 1996

    22. OLD AND USED TOYOTA COROLLA CAR, LEFT HAND DRIVE, CHASIS/VIR# 2T1BB02E0TC142547 MODEL: 1996

    Draft rules issued for Uzbekistan-Pakistan transit trade
  • Pakistan’s car sales declines by 6% in October

    Pakistan’s car sales declines by 6% in October

    KARACHI: Pakistan car sales have come down 6 per cent Month on Month (MoM) in October 2021, reaching 21,000 units, as reported by Pakistan Automotive Manufacturers Association (PAMA) on Thursday.

    Pakistan car sales (including KIA) clocked in at 24,000 units in October 2021, down 4 per cent MoM.

    Analysts at Topline Securities said that Pak Suzuki (PSMC) had stopped booking of certain variants of Cultus and Alto models due to supply side constraints which had an impact on its overall sales during the month.

    Honda Car (HCAR) also witnessed lower MoM sales due to rising competition and anticipated launch of KIA Stonic.

    Sales of HCAR and PSMC were down 27 per cent and 8 per cent MoM, respectively. Indus Motors (INDU) continued to post strong growth growing by 10 per cent MoM. Hyundai Nishat also recorded 10 per cent MoM increase in car sales.

    With stringent regulation on car financing by SBP and rising interest rates, car sales can slow down further going forward.

    On YoY basis, car sales improved by 49 per cent YoY driven by PSMC and INDU sales which were up 69 per cent and 26 per cent, respectively. In 4MFY22, car sales increased by 75 per cent YoY to 90k units primarily due to low base and macro recovery.

    Pakistan bike sales as reported by PAMA were up 14 per cent MoM and 1 per cent YoY to 177k units in Oct 2021 where Atlas Honda (ATLH) recorded growth of 14 per cent MoM and 8 per cent YoY.

    Pakistan tractor sales posted growth of 22 per cent MoM and 19 per cent YoY, reporting sales of 5k units during Oct 2021. Trucks & buses sales were down 5 per cent MoM and up 32 per cent YoY.

    Car sales surge by 58% in September 2021
  • Tax rates on motor vehicles during tax year 2022

    Tax rates on motor vehicles during tax year 2022

    The rates of income tax on motor vehicles for tax year 2022 to be applicable under Second Schedule of Income Tax Ordinance, 2001.

    The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021.

    Following are the rates of income tax on motor vehicles shall be applicable during tax year 2022:

    Rates of collection of tax under section 234,—

    (1) In case of goods transport vehicles, tax of two rupees and fifty paisa per kilogram of the laden weight shall be charged.

    (1A) In the case of goods transport vehicles with laden weight of 8120 kilograms or more, advance tax after a period of ten years from the date of first registration of vehicle in Pakistan shall be collected at the rate of twelve hundred rupees per annum;

    (2) In the case of passenger transport vehicles plying for hire with registered seating capacity of—

    S.No.CapacityRs per seat per annum
    (i)Four or more persons but less than ten persons.50
    (ii)Ten or more persons but less than twenty persons.100
    (iii)Twenty persons or more.300

    (3) In case of other private motor vehicles shall be as set out in the following Table, namely:-

    S. No.Engine capacityTax
    (1)(2)(3)
    1.upto 1000ccRs. 800
    2.1001cc to 1199ccRs. 1,500
    3.1200cc to 1299ccRs. 1,750
    4.1300cc to 1499ccRs. 2,500
    5.1500cc to 1599ccRs. 3,750
    6.1600cc to 1999ccRs. 4,500
    7.2000cc & aboveRs. 10,000

    (4) where the motor vehicle tax is collected in lump sum,

    S. No.Engine capacityTax
    (1)(2)(3)
    1.upto 1000ccRs. 10,000
    2.1001cc to 1199ccRs. 18,000
    3.1200cc to 1299ccRs. 20,000
    4.1300cc to 1499ccRs. 30,000
    5.1500cc to 1599ccRs. 45,000
    6.1600cc to 1999ccRs. 60,000
    7.2000cc & aboveRs. 120,000

    (Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

    Tax rates on petroleum products during tax year 2022
  • Indus Motors posts 195% growth in net profit to Rs5.42bn

    Indus Motors posts 195% growth in net profit to Rs5.42bn

    KARACHI: Indus Motor Company Limited has reported a remarkable 195% increase in net profit, reaching Rs5.42 billion for the quarter ended September 30, 2021, compared to Rs1.84 billion during the same period last year.

    (more…)
  • Pakistan eyes eight million annual automobile production

    Pakistan eyes eight million annual automobile production

    BEIJING: Moin ul Haque, Pakistan Ambassador to China, on Wednesday said that Pakistan is planning to enhance automobile annual production from 0.25 million to eight million units during next five years.

    “It is a bit ambitious target but it is possible to achieve this target due to the yearly growth in production as well as interest showed by different automobile companies from across the world especially from China which plans to invest in Pakistan,” he said while addressing Pakistan Automobile Industry Roundtable Seminar held at Pakistan Embassy, Beijing.

    The representatives of over 50 renowned automobile companies from different parts of China attended the seminar.

    While addressing the participants, the ambassador said that a number of the Chinese companies are already in Pakistan in automobile manufacturing sector while up to 10 new companies have showed interest to invest in Pakistan and are in the process of having joint ventures with their local partners in the private sector.

    He informed that the government is formulating a new and very attractive automobile sector policy which will be announced soon, adding, more incentives and concessions in taxes are likely to be offered in the new policy.

    Ambassador Haque said that automobile companies including manufacturers of energy vehicles from China will be invited to set up their plants both in the Greenfield and Brownfield sectors.

    Giving details about the automobile sector in Pakistan, he said that the automobile is the fastest growing sector in Pakistan because of the large demand in view of the population which is close to 220 million people.

    In the past, the Japanese manufacturers had set up their production units but in the recent times the Chinese automobile companies also started looking at the opportunities available in Pakistan.

    He said that China is now becoming one of the leaders of automobile manufacturer in the world with very high quality products and expressed the pleasures that the Chinese companies have also entered to the Pakistani automobile market.

    While sharing the opportunities under the China Pakistan Economic Corridor (CPEC), he said that the flagship project of the Belt and Road Initiative (BRI) has entered into the second phase which is focusing industrialization, science and technology and agriculture sectors.

    “We are setting up special economic zones where we are inviting the Chinese investors to come and set up their manufacturing units,”he added.

    Ambassador Haque said that special incentives and policies have been announced for the Chinese companies and so far close to 100 Chinese companies have already established are in the process of establishing their units in the special zones.

    He said that the infrastructure like roads, highways and communication network is being upgraded in Pakistan and invited the Chinese companies to take advantage of all these incentives and expand their presence.

    Welcoming the representatives of the automobile companies, Commercial Counselor, Badar uz Zaman said that the new automobile policy for years 2021 to 2026 will soon be announced offering more incentives and benefits to local and foreign investors.

    He informed that under the current automobile a number of new companies particularly Chinese manufacturers entered in Pakistani market.

    Badar said that a number of Chinese companies are already setting up their businesses in Pakistan while some new companies are keen to invest in Pakistan owing to investment friendly policies offered by the present government.

    He informed the companies that government has formulated rules and regulations which support the foreign investment in Pakistan.

    Badar also shared details of the incentives, concessions in the taxation and easy repatriation of profits.

    “Many local companies listed with the stock exchange are very keen and are looking forward to the Chinese partners for the joint ventures,” he added.

    He said that there are over 600 auto parts manufacturers who are also supplying the parts to the existing players, adding, “We offer very comprehensive auto financing policies and the banks are very active.

    And the amount that has been financed in cars is three times more than the housing finance in Pakistan.”

    The commercial counsellor also shared with the companies details of concessions on taxes, duties and particularly cheap labour.

    He said that in the current global scenario when there is a supply chain shock, and it is difficult to move things from one place to another place, it is right time for the Chinese investors to take advantage of Pakistan location, low wages and other benefits.

    Later, representatives of the companies who are already operating in Pakistan shared their experiences and put forward some useful proposals.

    Some new companies which plan to enter into Pakistani automobile industry asked questions and more details about the policies.

    The representatives of Anhui Jianghuai Automobile Group, Beijing Henrey Auto, Hozon New Energy Automobile, BAIC Intl, Great Wall Motor Company, Beijing Sanxing Automobile, Foton Motor Group, Tianjin Tianqi Group Meiya Automobile, Zhongtong Bus Holding Co., Youtong Bus, Dongfeng Motor Company, Jiangxi Jiangling Motor, Xiamen Golden Dragon Bus Co., Liaoning Aerospace Automobile Co., Wolkswagen Group, Geely Automobile International Corporation and others attended the seminar.

    Car sales surge by 58% in September 2021
  • Car sales surge by 58% in September 2021

    Car sales surge by 58% in September 2021

    KARACHI: The sales of locally assembled / manufactured cars witnessed a growth of 58 per cent in September 2021 due to lower tax rates and rise in auto financing.

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