KARACHI: The Pakistan Automobile Assemblers and Dealers Association has claimed that the government had lost over Rs100 million in three months since July as the Federal Board of Revenue (FBR) could not collect withholding tax on imported used cars. In a statement, Chairman Iqbal Shah said that the FBR collected withholding tax through provincial excise departments only from new vehicles due to technical and procedural issues with their systems. This spar ...

KARACHI: Pakistan Automotive Manufacturers Association (Pama) has raised concerns over the recent valuation of motorcycle parts, saying it will hurt the interests of Original Equipment Manufacturers (OEMs). The Pama director general has written a letter to DG Customs Valuation, complaining that the recent valuation ruling No 685/2014 dated September 15, 2014 was enforced without taking OEMs on board, said a press release. The new Import Trade Pric ...

KARACHI: Sales of locally assembled cars (passenger cars and light commercial vehicles) in September 2014 jumped 14% year-on-year (YoY) to 12,693 units, compared to 11,166 units sold in September 2013. The increase was largely driven by the newly-launched Toyota Corolla, which achieved sales of 4,358 units (up 106% YoY) during the period, according to a Global Research report. Decline on a quarterly basis However, on a cumulative basis, car sale ...

KARACHI - Karachi Goods Carrier Association has showed concern over the seizing of vehicles or containers for the upcoming public gathering announced by Pakistan Peoples Party on 18th of Oct at Jinnah ground. Khalid Khan, President KGCA, suggested the Sindh govt to adopt alternate sources for its public gathering and don’t push the transporters towards strike by using these tactics that also create the unemployment.  He said government ordered the ...

KARACHI: Amid mixed trend in country’s external trade and improvement in large-scale manufacturing, the truck sector posted over 100 per cent rise in production and sales in July-September 2014 as compared to July-September 2013. A total of 1,020 trucks were produced with sales hitting to 830 units as compared to production of 452 and sales of 417 units in July-September 2013. The production and sales of Hinopak trucks rose to 342 and 269 units f ...

SHANGHAI: Volkswagen AG's lead in China's compact sedan market this year has helped a handful of German marques sell almost as many passenger cars as China's 25 local brands combined - a trend industry watchers say can only lead to consolidation. Competitive pricing has made four Volkswagen models China's best-selling compacts, boosting Germany's share of the overall passenger market to 24 percent in July from 21 percent at the end of 2013. That's now ...

BEIJING/NAGOYA: Toyota Motor Corp is reconsidering a move to open a new compact car assembly plant in Mexico after company President Akio Toyoda told planners searching for a site to pause and review its rationale, executives familiar with the matter said. According to four Toyota and group executives, momentum had been building for a decision this summer on the expansion, with the aim of starting production of the mass market Corolla in Mexico in a few y ...

JAKARTA: Japan's Mitsubishi Motors Corp will invest $600 million to set up its first multi-purpose vehicle factory in Indonesia, aiming to capitalise on strong demand for the segment in the country as well as to export to other markets in Asia. Multi-purpose vehicles or MPVs accounted for more than half the 1.23 million cars sold in Indonesia in 2013. Often known as people carriers, larger versions can seat up to eight passengers. The assembly plant i ...

KARACHI:  When one ventures on deciding which car to buy, the equation would involve numerous variables. The price is most likely to be the biggest factor followed by engine performance, fuel efficiency, shape and design, company’s reputation among a host of other determinants. When it comes to locally-assembled vehicles, Pakistanis don’t get a lot of choice. If one was to discount imported cars, it would boil down to a handful of players ...

Premier Systems has unveiled the all new Audi A8 L in a lavishly themed gala dinner and musical evening at the Mohatta Palace Museum in Karachi inspired by the guiding principle “The Art of Progress”. In a star-studded event hosted by actor/model Wiqar Ali Khan, the revealing of the new Audi A8 L was followed by a magnificent performance by Music Maestro Ustad Rahat Fateh Ali Khan. “Rahat Fateh Ali Khan is an extraordinary artist who ...