'On Money' issue haunts new vehicle buyers

Amid rising auto production, the issue of ‘on-money’ and late deliveries on locally assembled cars continues to haunt buyers.

According to data of the Pakistan Automotive Manu­facturers Association (PAMA), overall car production rose to 106,439 units in 9MFY21 from 86,628 units in the same period last fiscal year.

Consumers are also taking a costly ride as no assembler has announced any price cut despite low cost of imports of parts and accessories on account of rupee appreciation against the dollar from August 2020 till to date. 

One dollar is now quoted at around Rs154 in the interbank market versus Rs168.78 in August 2020.