According to Spectrum Research, Pakistan’s automotive industry has experienced an extended period of contraction, resulting in lacklustre sales and a significant decline in revenue.

The foremost automobile manufacturers have grappled with the formidable challenges posed by the economic slowdown, attributed in part to the depreciation of the rupee, restricted import policy, higher local vehicle prices, mounting POL product prices, record highest interest rates, decline in consumer financing from financial institutions, and per capita income.

The country’s automobile demand has eased, with total automobile sales volume declining by 30%QoQ/79%YoY to 26k units.