Pkrevenue.com

Category: Automotive

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

  • Honda Aircraft unveils Jet Elite II

    Honda Aircraft unveils Jet Elite II

    Honda Aircraft Company unveiled the latest aircraft namely Jet Elite II at the 2022 National Business Aviation Convention and Exhibition. The new upgraded aircraft features more key advancements in performance and comforts.

    The aircraft has the range of 1,547 nautical miles. There is additional space for carrying more fuel. The maximum takeoff weight is of 11,100 pounds.

    The aircraft has new features enabling the automation and augmentation. The operational safety feature reduces the workload for pilot with more efficient features.

    The Emergency Autoland feature enables in an emergency situation to autonomously control and land the aircraft without human intervention.

    The HondaJet Elite II is the fastest, farthest and highest-flying plane in its class. The HondaJet Elite II incorporates Honda Aircraft’s many technological innovations, including the unique Over-The-Wing Engine Mount (OTWEM) configuration, Natural Laminar Flow (NLF) nose and wing, and composite fuselage.

    The aircraft is also powered by the GE Honda Aero Engines HF120. All of these advancements contribute to the aircraft’s superior performance, unparalleled efficiency and maximized fuselage space, making the aircraft’s cabin the largest in its class.

    The aircraft sets the standard in safety and human-machine interface technology with an ergonomically designed cockpit and highly customized Garmin® G3000 avionics suite.

    Honda Aircraft continues to be committed to improving lives through personal mobility, while living in a sustainable society. The HondaJet Elite II remains significantly more fuel efficient, with lower greenhouse gas emissions than all other similarly sized twin-engine business jets.

    Certified for single pilot operations, the HondaJet Elite II continues to live up to the company’s reputation for superior performance, efficiency, quality, and value.

  • Honda launches locally assembled HR-V in Pakistan

    Honda launches locally assembled HR-V in Pakistan

    LAHORE: Honda Pakistan today unveiled the locally assembled HR-V in Pakistan. The unveiling event took place in Lahore. The company introduced two variants of the car, VTi and VTi S.

    The price of the VTi variant is Rs5,999,000 and VTi S variant is launched with the price of Rs6,199,000. The booking price of both variants is Rs. 13 lacs, however the delivery status may differ on the time of bookings.

    HR-V variants are equipped with a 1.5Lnaturally aspirated engine carrying the capacity to produces 121 horsepower and 145 Nm of torque.

    READ MORE: Honda suspends car production in Pakistan

    The car comes with the CVT transmission and both of the variants have eco mode.

    The front face of the variants come with LED Auto headlights with LED DRLs. The front grille is painted with black color in VTi variant. However the color of front grille in VTI-S variant varies according to the color of body.

    The VTi variant offers 2 tone 17″ Alloy Rims and VTi-S variant comes with grey painted 17″ Alloy Rims.

    The interior of both vehicles have 4.2 TFT screen, multimedia steering, smart entry, push start, ambient lights, and front console light.

    The VTi variant offers 9″ multimedia against 9″ android/Apple car play multimedia in VTi-S variant.

    VTi-S variant offers additional feature including the wireless charger, rear USB port, auto dimming rear view mirror, sequential turn signals, and LED fog lights. The grey and red interior is optional in both variants.

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

  • Suzuki Pakistan announces plant shutdown on inventory shortage

    Suzuki Pakistan announces plant shutdown on inventory shortage

    KARACHI: Pak Suzuki Motor Company Limited on Thursday announced a temporary plant shutdown due to shortage of inventory after conditions imposed by the central bank.

    In a communication sent to Pakistan Stock Exchange (PSX), the company stated that the State Bank of Pakistan (SBP) had introduced a mechanism for prior approval for importer under HS Code 8703 category, including CKDs through a circular No. 09 issued on May 20, 2022.

    READ MORE: Suzuki Motors extends plant shutdown in Pakistan

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

    Therefore, due to shortage of inventor level, the management of the company has decided to shut down automobile plant for period extending from October 24, 2022 to October 26, 2022. “However, motorcycle plant will remain operative,” it said.

    READ MORE: Suzuki Motor Pakistan continues plant shutdown

    The company for the last several months is making similar announcement due to shortage of inventory and raw material for the locally manufactured cars.

    READ MORE: Suzuki Motor announces further plant shutdown in Pakistan

    According to latest data of locally assembled car sales, Pak Suzuki witnessed sharp decline during the first quarter (July – September) of fiscal year 2022/2023. The car sales of Pakistan Suzuki fell to 16,639 units during the first quarter of the current fiscal year as compared with 38,431 units in the same quarter of the last fiscal year.

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

  • Rolls Royce unveils first electric car Spectre

    Rolls Royce unveils first electric car Spectre

    Rolls Royce launched the first electric car namely Spectre. The car is manufactured on the Rolls-Royce all-aluminium Architecture of Luxury. Spectre marks the beginning of all-electric era for Rolls-Royce Motor Cars.

    The press release issued by the company stated that the final power, acceleration and range figures are still being refined, as the extraordinary undertaking of finessing Spectre enters its final phase before concluding in the second quarter of 2023.

    However Preliminary data shows that Spectre is expected to have an all-electric range of 320 miles/520 kilometres WLTP and offer 900Nm of torque from its 430kW powertrain. It is anticipated to achieve 0-60mph in 4.4 seconds (0-100km/h in 4.5 seconds).

    Through unveiling of Spectre, Rolls-Royce sets a new precedent in the creation of an entirely original class of motor car: the Ultra-Luxury Electric Super Coupé.

    This designation refers to Spectre’s indulgent proportions, specified in response to a commitment that there is no greater luxury than that of space.

    From the front, Spectre’s split headlight treatment is intersected by the widest grille ever bestowed on a Rolls-Royce. The vanes of the Pantheon grille are now smoother in section and a flusher fit, designed to help guide the air around the motor car’s front.

    The relaxed angle and polished stainless steel finish of the grille does much to enhance Spectre’s presence using environmental reflection.

    Along with an aero-tuned Spirit of Ecstasy figurine – itself the product of 830 combined hours of design modelling and wind tunnel testing – the grille enhances the motor car’s unprecedented drag coefficient, which at just 0.25cd makes Spectre Rolls-Royce’s most aerodynamic motor car, ever.

    The proportional demands of Spectre’s scale required Rolls-Royce to embolden its wheel strategy.

    Spectre is the first production two-door coupé to be equipped with 23-inch wheels in almost one hundred years.

    For the first time on a series production Rolls-Royce, Spectre is available with Starlight Doors, which incorporate 4,796 softly illuminated ‘stars’.

    The coach doors can also be commissioned with a backdrop of wood Canadel Panelling, which takes its name from the cove in the South of France where Sir Henry Royce and his design team spent their winters.

    Alongside the extraordinary, illuminated surfaces, Spectre is equipped with a completely redesigned digital architecture of luxury named SPIRIT, presented in quintessential Rolls-Royce style.

    Not only will SPIRIT manage the motor car’s functions, but it is seamlessly integrated into the marque’s Whispers application, allowing clients to interact with their car remotely, and receive live information curated by the marque’s luxury intelligence specialists.

  • Hyundai unveiled all new design for seventh generation Grandeur

    Hyundai unveiled all new design for seventh generation Grandeur

    SEOUL: Hyundai Motor Company today unveiled the bold design of its seventh generation Grandeur.

    It is badged as Azera in markets outside Korea. The all new model comes after six years, the sixth generation of Grandeur was launched in 2016.

    Since its original debut as Hyundai’s high-end sedan in 1986, Grandeur has led the Korean sedan market, with design and innovations that stand for success and premium quality.

    The seventh-generation Grandeur has evolved into a model with a new level of refinement and sophistication, full of innovative design cues and high-tech details, which reflects the great transformation happening in the mobility sector without losing sight of the model’s tremendous heritage.

    READ MORE: Lexus launches new electric car UX 300e

    “The seventh-generation Grandeur expresses our respect for the past and commitment to move on to the future,” said SangYup Lee, Executive Vice President and Head of Hyundai Design Center. “We are creating a new standard for the premium sedan market through emotive design and a refined customer experience.”

    The All-New Grandeur’s exterior design takes inspiration from previous models and applies Hyundai Motor’s philosophy to reflect on its past while setting a course for the future. 

    One of the model’s most prominent aspects is its pure volume and excellent sense of proportions that balance premium and dynamic styling attributes. The All-New Grandeur is defined by a Seamless Horizon Lamp inspired by the first light of dawn, accentuating the model’s wide stance and harmonizing with its parametric jewel grill. The Seamless Horizon Lamp is a perfect fusion of technology and art and characterizes Grandeur’s future-focused design sensibility.

    The large sedan’s pure volume is accentuated by a single character line that runs smoothly and horizontally from the headlamps to the rear combination lamp over clean, uncluttered body sides with frameless doors and auto-flush handles that reflect the model’s contemporary style and refinement.

    Grandeur’s stretched wheelbase harmonizes with the boldly receding cowl point and C-pillar to provide an excellent sense of spaciousness as well as dynamic and sporty proportions.

    The ‘Seamless Horizon’ design is also applied to the signature combination lamp that spans the taut rear end, emphasizing the model’s slim yet confident stance. 

    For the All-New Grandeur, Hyundai Motor created a wrap-around interior space trimmed in premium and sustainable materials to provide a clean, comfortable respite for busy lives.

    The ambient mood lighting spreads softly across the door trim and the front of the dashboard, and interactive lighting on the upper right of the integrated display provides a new user experience.

    The pattern details on the door trim are designed with a delicate Korean aesthetic. Together, these elements provide passengers a calming space for relaxation and recovery.

    The steering wheel was also inspired by the single-spoke design of the first-generation Grandeur and reborn in its current form by integrating and rearranging controls to provide a more optimized layout for the driver. With the gear knob moved to the steering wheel, the console space provides neat and clean storage conveniences and wireless charging tailored for diverse customer lifestyles and connectivity needs.

    On the sleekly styled interior surfaces, designers applied real wood, aluminum and naturally dyed Napa leather quilted in a traditional Korean pattern to provide further differentiation and refinement.

    The sedan’s interior and exterior abound with sustainable materials. In addition to eco-process Napa leather, there is hygienic, anti-bacterial leather applied to various touchpoints.

  • KCCI advises importers to manufacture motorcycle spare parts

    KCCI advises importers to manufacture motorcycle spare parts

    Karachi Chamber of Commerce and Industry (KCCI) has advised importers of motorcycle spare parts to set up industry for manufacturing locally.

    KCCI President Mohammad Tariq Yousuf advised the importers of motorcycle spare parts to go for setting up their own cottage industries for manufacturing various spare parts which were currently being imported as it was no more feasible to import these parts because of uncertain situation triggered by unstoppable currency fluctuation.

    READ MORE: KCCI managing committee candidates elected unopposed

    Exchanging views with a delegation of All Pakistan Motorcycle Spare Parts Importers and Dealers Association (MSPIDA) which was led by its Chairman Nasir Maqbool during visit to KCCI, Tariq Yousuf stressed that setting up small industries for manufacturing spare parts was the only solution to most of the problems being faced by traders including exorbitant customs duty, delays in clearance of consignments, heavy demurrage/ detention losses and high cost of imported goods due to rising dollar value.

    “You have to go for import-substitution otherwise, all the issues being faced today would remain as they are in future so you must look into the possibility of becoming independent by setting up small manufacturing units,” he added.

    READ MORE: APTMA demands immediate release of textile machinery

    Senior Vice President KCCI Touseef Ahmed, Vice President KCCI Muhammad Haris Agar, Chairman KCCI’s Special Committee for Small Traders Majeed Memon, Former President KCCI Iftikhar Ahmed Vohra, Former Chairman MSPIDA Faisal Khalil, KCCI Managing Committee Members and MSPIDA Members also attended the meeting.

    Tariq Yousuf assured that the Karachi Chamber, being the actual representative of the entire business and industrial community, was well-aware of the issues being faced by shopkeepers due to rising street crimes and has constantly been pushing the Law Enforcing Agencies to take stringent steps so that they could fearlessly carry out their businesses.

    READ MORE: Date extension demanded for electricity bills payment

    “Any MSPIDA member, who faces problems in dealing with any law-and-order issues can easily get in touch with KCCI’s Police Chamber Liaison Committee and Law & Order Subcommittee who are working round-the-clock to help out the perturbed shopkeepers, businessmen as well as the industrialists”, he said.

    Moreover, all MSPIDA members facing delays in clearance of imported goods can also approach KCCI and we will get in touch with the Customs Authorities and the State Bank of Pakistan so that the imported items could be cleared within the earliest possible time which would save importers from suffering grave losses on account of demurrage and detention charges, assured President KCCI.

    He also stressed that the government must look into the possibility of bringing down customs duty of spare parts and rationalize Valuation rulings as these were not supporting the economy but paving way for smuggling and causing losses to the national exchequer.

    READ MORE: Power tariff hike termed disaster for industries

    Earlier, Chairman PASPIDA Nasir Maqbool, in his short remarks, congratulated the newly elected Office Bearers and hoped that the support and cooperation between the two institutions would strengthen further in the days to come and collective efforts will be made for resolving numerous issues particularly the Customs and Valuation issues being faced by the importers of spare parts.

    Speaking on the occasion, Former Chairman PASPIDA, while agreeing with President KCCI’s viewpoint about import-substitution, stated that although many importers of spare parts have established small manufacturing units so that they could locally manufacture various imported items but the raw material required for manufacturing these spare parts has also been blocked under Customs Tariff Section 84 and 85 which needs attention.

    He said that exorbitant customs duty of 35 percent along with 11 percent additional duty, high GST and other levies were having an overall impact of around 90 percent on the cost of imported spare parts of motorcycles, making this important mode of travelling costlier and beyond the reach of poor segment of society.

    “We request KCCI to take up this important issue with relevant policymakers in Islamabad so that the customs duty and other taxes could be drastically reduced which would not only save relevant businesses but also prove favorable for the economy by discouraging widespread smuggling of spare parts”, he added.

  • Apple Music introduced in Mercedes-Benz vehicles

    Apple Music introduced in Mercedes-Benz vehicles

    PARIS: Apple and Mercedes-Benz introduced premium immersive Apple Music’s Spatial Audio with support for Dolby Atmos in Mercedes-Benz vehicles for first time.

    Apple Music with Spatial Audio comes fully integrated through the MBUX infotainment system in Mercedes-Maybach models, the EQS and EQS SUV, as well as the EQE and the S-Class, equipping these vehicles with studio-quality sound better than in any concert hall, and giving drivers a fully immersive listening experience with unparalleled, multidimensional sound and clarity. 

    “Sound quality is incredibly important to Apple Music, which is why we are so excited to be working with Mercedes-Benz to make Spatial Audio on Apple Music available natively in the car for the first time,” said Oliver Schusser, Apple’s vice president of Apple Music and Beats.

    READ MORE: Apple launch savings account card

    “Spatial Audio is revolutionizing the way artists create and fans listen to music, and it’s an experience that is impossible to explain in words; you have to hear it for yourself to appreciate it. Together with Mercedes-Benz, we now have even more opportunities to bring wholly immersive music to our subscribers all over the world.”

    “We’re joining forces to offer our customers a benchmark music experience unparalleled in the industry,” said Markus Schäfer, Mercedes-Benz Group AG’s chief technology officer and a member of the board of management.

    “We are proud that our vehicles will be the first-ever non-Apple devices to feature immersive Spatial Audio with Dolby Atmos. This seamless experience shows how in-car entertainment can reach exciting new levels by perfectly integrating hardware and software.” 

    Mercedes-Benz drivers who are already subscribed to Apple Music gain immediate access to an ever-growing selection of songs and albums available in Spatial Audio from some of the world’s biggest artists spanning all genres, including hip-hop, country, Latin, pop, and classical.

    Apple Music also offers curated Spatial Audio playlists like Driving in Spatial Audio and Hip-Hop in Spatial Audio, where listeners can find and discover songs from their favorite artists. Additionally, subscribers can access Apple Music’s entire catalog of 100 million songs, thousands of editorially curated playlists, and daily selections from the world’s best music experts, including all of the artists and hosts broadcasting across its Apple Music 1, Apple Music Hits, and Apple Music Country global live-stream radio stations.

  • Lexus launches new electric car UX 300e

    Lexus launches new electric car UX 300e

    Lexus launched new electric car UX 300e with the evolution of the brand’s first production Battery Electric Vehicle (BEV) model. The updated UX 300e joins the new UX 200/250h announced earlier this year, with deliveries scheduled to begin in 2023.

    Since the 2005 launch of the RX 400h, the world’s first hybrid SUV, Lexus has been a pioneer of electrification in the luxury market. Based on the electrification vision “Lexus Electrified” announced in 2019, Lexus aims to meet the diverse needs of global customers through a broad range of electrified vehicles, from HEVs to PHEVs and BEVs. Using electrification technology to significantly enhance fundamental vehicle performance.

    Lexus continues to refine the timeless joy of the automobile, through hallmark precision and sophistication. In 2020, Lexus launched UX 300e as the brand’s first production BEV model. In 2022, this was followed by the introduction of the Lexus RZ, a dedicated BEV model.

    As of the end of August 2022, cumulative sales of Lexus electrified vehicles stand at approximately 2.3 million units, as the brand accelerates their development and adoption to contribute to the realization of a carbon-neutral society.

    In addition to its maneuverable body size and unique “UX” urban compact crossover design, the UX 300e is highly regarded by customers seeking a distinctly quiet and refined BEV driving experience. The enhancements announced for the UX 300e are based on the relentless pursuit of perfection under an “Always On” philosophy.

    Enhancements unique to the BEV powertrain include a newly developed battery pack with capacity increased from 54.4 kWh to 72.8 kWh, resulting in a cruising range of 450 km―over 40% longer than the current model.

    The UX 300e also inherits the further refinements made to the dynamic precision of the UX series for confidence-inspiring performance, along with the expanded functionality of active safety technologies, and the evolution of advanced features through the latest multimedia system.

    The updated UX 300e underwent rigorous testing and evaluation at Toyota Technical Center Shimoyama. The low center of gravity created by the under-floor placement of the BEV battery pack gives the UX 300e a natural performance advantage, as do standard rear Performance Dampers.

    For even more refined dynamics, body rigidity was strengthened with the addition of 20 spot welding points, and the Electric Power Steering (EPS) and shock absorbers were optimally tuned for the all-electric model.

    When it comes to advanced technology, functionality of the “Lexus Safety System +” active safety technology was expanded with the aim of providing a safer and more secure driving experience.

    In addition, the latest multimedia system brings a larger, higher resolution touch panel display, the form and switch layout of the instrument panel and console area have been optimized, and two new Type-C USB connectors have been added to the front of the console for improved usability when charging devices.

    The UX 300e takes full advantage of the electric powertrain configuration. As a unique BEV characteristic, it does not carry front-heavy objects such as an engine, allowing heavier components to be placed towards the center of the vehicle for optimum front/rear weight distribution and moment of inertia.

    The low center of gravity provided by the underfloor battery pack and the rear Performance Dampers complement these attributes to refine the dynamics and enhance the sense of connection between the car and driver.

    The underfloor battery also acts as a sound barrier, and extra attention was focused on wind noise and road noise from gravel and other materials that became apparent in the absence of engine and transmission sounds. The result is a comfortable, quiet interior space.

    The newly developed battery pack extends cruising range by more than 40% to 450 km compared to the current model and achieves energy consumption of 166.7 Wh/km.

  • Nissan says goodbye to Russian markets

    Nissan says goodbye to Russian markets

    YOKOHAMA, Japan: Nissan Motor Co. Ltd says goodbye to the Russian markets after the discontinuation of productions and sales.

    Nissan’s Executive Committee has announced the sale of its Russian operations to NAMI, which is the Central Research and Development Automobile and Engine Institute.

    The press release issued by the company stated that, the sale will transfer all Nissan operations in Russia under the Nissan Manufacturing Russia LLC (NMGR) legal entity to NAMI for future passenger vehicle projects.

    This covers Nissan’s manufacturing and R&D facilities in St. Petersburg, and Sales & Marketing centre in Moscow, which will operate under a new name.

    READ MORE: Toyota stops car production in Russia

    The announcement follows the suspension from March of operations in the market. Under the new ownership of the NMGR entity, all of Nissan’s employees in the market will receive employment protection of 12 months.

    The sale is expected to be formalised in the coming weeks following approvals from the relevant authorities. The terms of the sale would allow Nissan the option to buy back the entity and its operations within the next six years.

    Nissan will take a one-off impact of approximately 100 billion yen from this exit. However, Nissan will maintain its full-year guidance. Details will be reported after further assessment as part of the regular disclosure during the second quarter results in November 2022.

    Nissan President and CEO Makoto Uchida said, “On behalf of Nissan, I thank our Russian colleagues for their contribution to the business over many years. While we cannot continue operating in the market, we have found the best possible solution to support our people.”

    Since Nissan assumed zero activity in the market in this fiscal year, Nissan remains on track to achieve its business objectives under the Nissan NEXT transformation plan, as the company progress towards its Ambition 2030 goals.

    READ MORE: Nissan Z GT4 unveiled; to be available from 2023

  • Pakistan car sales plunge 50% in 1QFY23

    Pakistan car sales plunge 50% in 1QFY23

    KARACHI: Pakistan’s car sales plunged by 50 per cent to 34,472 units during the first quarter (July – September) of 2022-2023, according to data released by Pakistan Auto Manufacturers Association (PAMA).

    The locally manufacturing of cars recorded 68,897 units in the same quarter of the last fiscal year.

    READ MORE: Pakistan car sales plummet by 50% on import restriction

    Major decline has been recorded in manufacturing of Pak Suzuki Motors, which fell by 57 per cent to 16,637 units during the first quarter of the current fiscal year as compared with 38,431 units in the same quarter of the last year.

    Indus motors recorded a dip of 52 per cent to 8,868 units during the quarter under review as compared with 18,646 units in the same quarter of the last year.

    The manufacturing of Honda Cars slipped by 39 per cent to 5,626 units in July – September 2022 as compared with 9,172 units in the corresponding period of the last year.

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

    However, Hyundai witnessed a jump of 34 per cent in manufacturing to 3,097 units during the first quarter of the current fiscal year as compared with 2,303 units in the same quarter of the last year.

    Analysts at Topline Securities said that Pakistan car sales (including sales of Non-PAMA members) clocked in at 13k units down 7 per cent MoM primarily due to unavailability of CKD parts which led to non-production days by auto manufactures in September 2022.

    Auto sales are also down by 51 per cent YoY amid escalating car prices, expensive auto financing, and low purchasing power of consumers. This takes 1QFY23 car sales to 34,472 units down 50 per cent YoY from 68,897 units in 1QFY22.

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

    All companies reported decline on MoM basis except for Pak Suzuki (PSMC) where sales were up by 52 per cent MoM due to low base as plant closure amid unavailability of CKD parts resulted in sales of 3,954 units in August 2022.

    Indus Motors (INDU) posted decline of 32 per cent MoM to 2,617 units in Sep-2022 from 3,876 units in Aug-2022. Honda Atlas Car (HCAR) also recorded decline of 29 per cent MoM to 1,280 units in Sep-2022 led by decline in sales of BRV by 79 per cent MoM.

    Hyundai sales also down 50 per cent MoM to 967 units in September 2022 led by decline in Tuscon sales by 62 per cent MoM.

    READ MORE: Toyota unveils all new Crown for first time

    Amongst Tractors, Millat Tractors (MTL) recorded decline of 75 per cent MoM and 72 per cent YoY to 638 units due to shutdown of plant for 23 days in September 2022 amid floods. Al Ghazi Tractors (AGTL) recorded sales of 1,511 units, up 6 per cent MoM while down 29 per cent YoY.

    Pakistan bike sales were down by 7 per cent MoM and 39 per cent YoY in Sep-2022. Atlas Honda (ATLH) recorded sales of 85K units, flat MoM while down 23 per cent YoY.

    Trucks & Buses sales were up 11 per cent MoM while down 25 per cent YoY to 378 units in Sep-2022 primarily due to drop in transportation activities amid floods and slowdown in overall economy.