Islamabad: Investment trend in auto industry in the country has increased with the support of SIFC.
Significant improvement is being seen in the Pakistani auto industry. With the support of Special Investment Facility Council (SIFC), the investment trend in the Pakistani auto industry is increasing.
The sale of passenger vehicles in the country has increased by 46.7 percent, while the sale of trucks and buses has increased by 82 percent. Similarly, the purchase of jeeps and pickup vehicles has increased by 60 percent and the sale of motorcycles and rickshaws has increased by 23.4 percent.
Eco-friendly electric vehicles have also been introduced in the country, the demand for which has seen an extraordinary increase. Better auto financing and increasing confidence in the market are leading to an increase in sales.
The reason for the growth in the auto industry is the gradual reduction in interest rates by the State Bank of Pakistan. Thanks to interest-free financing, the confidence of consumers and investors is being restored.
SIFC facilitation is expected to further reduce interest rates and further increase auto sales with new models.
