KARACHI: Automobile manufacturing industry in Pakistan during July- February 2014 of current fiscal remained stable as it assembled 1.236 million units of tractors, trucks, LCVs, jeeps, cars, buses and motorcycles altogether registering 1.60 increase compared to 1.217 million units in same period of last fiscal.
According to latest production statistics of country’s large-scale manufacturing (LSM) industries released by Pakistan Bureau of Statistics (PBS), alone in February 2014 the automobile industry assembled 7.37 more units in first eight month of Fiscal Year 2013-14 (FY14) to 157,279 units as against of 146,474 units assembled in similar month in FY13.
Growth in automobile assembling industry mainly attributed to increasing production of Light Commercial Vehicles (LCVs) as local auto assemblers produced 11,727 units of LCVs in first eight months of current fiscal, representing 39.13 yearly growth as compared to 9,184 units in corresponding period of FY13.Similarly, in February 2014, LCVs production remained on upward trajectory to 1,504 units as against 1,081 units in February 2013.
Buses production increased to 410 units in said period by registering 42.86 percent yearly increase as compare to production of 350 units in corresponding period of FY13 while in February 2014, 60 buses were assembled in Pakistan as compared to 42 units in same month FY13.
Tractors production in Pakistan continued showing descending trend as total production of tractors fell by 54 percent in said period to 20,639 units when compared to production of 33,193 units in corresponding period of FY13. During February 2014, tractors production further reduced to 1,232 units as against of 2,665 units in February 2013.
Despite huge drop in influx of imported used vehicles due to three years age restriction, jeeps and cars production in country witnessed modest increase of 3 percent during first eight months of FY14 to 74,595 units as compared to 73,587 units in same period of FY13. Like wise, in February 2014, car and jeeps’ production in country increased to 10,389 units comparing to 10,054 units in same month 2013.
Having largest share in automobile industry, motorcycles’ production increased by 8.63 percent Year on Year to 1.128 million units in first eight months of FY14 when compared to 1.099 million units’ production in corresponding period of FY13. Motorcycles’ production in February 2014 stood at 143,857 units as against 132,423 units in same month 2013.
Trucks’ production increased to 1,504 units in said period depicting 13.40 percent yearly increase compared to 1,189 units in same period of FY13 while it also swelled to 237 units in February 2014 as against 209 units production in corresponding month of 2013.
ISLAMABAD – Minister for Finance and Economic Affairs Senator Ishaq Dar has issued ...