The collaboration with SIFC has brought notable progress to Pakistan’s auto industry, leading to a surge in investment trends.
Passenger car sales have seen a 46.7% increase, while the sales of trucks and buses have grown by 82%. Similarly, the purchase of jeeps and pickup trucks has risen by 60%, and sales of motorcycles and rickshaws have recorded a 23.4% increase.
The introduction of environmentally friendly electric vehicles has witnessed remarkable demand growth. Improved auto financing options and growing market confidence have also contributed to this surge in sales.
The progress in the auto industry is largely attributed to the gradual reduction in interest rates by the State Bank of Pakistan. Interest-free financing has restored consumer and investor confidence.
With SIFC’s facilitation, further reductions in interest rates and the introduction of new models are expected to drive auto sales even higher.
