Import of used cars surges to 28,000 units

Local automakers are struggling to attract buyers with price cuts, registration discounts and auto financing, while the imported used car market has shown strong performance. All Pakistan Motor Dealers Association (APMDA) Chairman H.M. Shahzad claimed that 28,000 used cars were imported during the July-May period of FY24, compared to 14,000-15,000 units in the entire FY23. “Total imports will reach up to 35,000 units by the end of the current fiscal year,” he said, claiming that the government would collect around $400 million in customs duty and other taxes from the overall import of used cars in the outgoing fiscal year. “Out of total imports of used cars, the share of 660-1,000cc is 80pc,” he said, attributing rising used car imports to political and economic stability from uncertainty last year.