COVID 19 has led to drastic negative impacts over the whole world’s economy due to the lockdown condition. However, economic experts witness a slight improvement occurring in the automobile industry in Karachi. The automobile industry specialists have made sure that a positive appeal is set up, which is outcoming for them in the near future. In the next coming years, the auto industry will expand up to 17% percent, which would possibly increase to 24% in the year 2022.
Nabeel Dochki, the auto analyst of Taurus securities, claims that comparative to the FY20, the volume will get a 35% increased in the FY21. Also, he informed that consumers have searched for KIA cars with an increment of 2% than before. As the company is relatively new, thus the figure is not soaring high up in the sky. Furthermore, KIA cars don’t have a lot of used cars existing in the market presently. As per Sabir Shaikh, the chairman of APMA, the automobile industry is being too quick in its financial recovery. Moreover, more bikes are being made than ever before.
The vehicle dealers have chosen online platforms to deal with automobiles, cars, and rickshaws, etc. This is how the automobile trading has become more modernized and fast-paced. Consecutively, in the span of six months, a single website dedicated to the automobile gained revenue of PKR61 Billion. The automobile or auto industry has obtained a legitimate growth in online means. Every day a number of 100,000Ads are added to the online platforms across the country.