MARCH 8, 2021 6:42 PM
There have been plenty of ‘new arrivals’ in Pakistan’s automotive industry over the last three to five years following the introduction of the Automotive Development Policy (ADP) 2016-21.
Some of the new arrivals quickly stood out in the market while others have been struggling to establish a foothold. There are also those who wound up their businesses and left the market altogether for various reasons.
However, the lack of coverage of the industry had led to a sense of uncertainty among the local buyers in terms of which “new arrivals” to expect in the coming days. Fortunately, a convenient list has been shared by Automark Magazine, highlighting the status of each new entrant that has either debuted or is going to be debut in Pakistan under the ADP 2016-21.
The following is a ranking of all the newcomers in terms of their investments in the Pakistani auto sector.
Photo Courtesy: Monthly Automark Magazine
Among the automakers that are yet to start production, Proton, MG, and Volkswagen are the names that could make a significant impact in the local passenger vehicle market. Meanwhile, KIA, Hyundai, Changan, and Prince DFSK have already begun making waves in the market on account of already having started productions in Pakistan.
However, Renault and Lifan — both of which could have been strong contenders in the market — have decided to not launch their vehicles in the Pakistani market.
Earlier reports had stated that one of the requests of the French automaker was that the Government of Pakistan extend its incentivization timeline to 2023 in order for the company to completely establish itself in Pakistan. There have been no updates about this since the report.
Additionally, Ghandhara Nissan Limited (GNL) will also begin operations under a brownfield status awarded by the government. The carmaker is likely to introduce a variety of passenger vehicles, including Electric Vehicles (EVs) in the market as well.
There have been plenty of ups and downs in the automotive market of Pakistan of late, but a general consensus suggests that significant developments have occurred in the industry after a long time over the last few days.
Moreover, with the Automotive Industry Development and Export Plan (AIDEP) 2021-26 and the new EV policy for four-wheeled vehicles (which will reportedly also focus on the localization of parts) soon to be announced, it can safely be said that there are promising days ahead for the Pakistani automotive sector.