Car financing in Pakistan slightly increased in September 2024. Automobile financing in Pakistan rose slightly to Rs227.54 billion in September 2024. This uptick breaks a 26-month streak of continuous decline in car financing. ISLAMABAD: Car financing in Pakistan experienced a slight rise in September 2024, increasing to Rs227.54 billion, a 0.11 per cent jump from … Read more
Total units sold reached 10,297, a 24% YoY increase and an 18% MoM increase. The surge was primarily due to the clearance of backlog orders from Suzuki. Economic vehicles, particularly those with engine capacities of 800cc and below, continued to perform strongly, with sales totaling 3,761 units. Car sales in Pakistan experienced a notable rebound … Read more
Despite 2023 being a challenging year for local assemblers, marked by significantly reduced sales figures nearly halving the volumes, it’s worthwhile to explore which cars performed best in terms of sales between January to December 2023. Kia Sportage The Kia Sportage, a stalwart in Kia’s local lineup, secured its place in the top 10 with … Read more
There are no rules about cryptocurrency in India, but it seems to be doing very well elsewhere. Haziq Nasri says he started investing in bitcoins when he was 10 years old. Cryptocurrency has grown in popularity worldwide. Many poor-to-rich stories involve cryptocurrency investments. Even though India has no cryptocurrency rules, it’s doing well elsewhere. A … Read more
Swvl operates a ride-hailing platform for private buses, similar to Uber’s model for taxis. Bookings have increased 40% year on year in the first quarter as commuters park their cars and take a Swvl. But the company slashed its headcount by almost a third in May while scaling back expansion. DUBAI: According to Swvl’s … Read more
Maruti Suzuki India plans to discontinue production of vehicles that rely solely on petrol power. This comes after the company ended production of diesel vehicles in April of 2020. Maruti has stated that it would not launch a fully electric vehicle before the year 2025. According to a story in the Economic Times on Monday, … Read more
Tesla’s completed sales fell by almost 18%, to around 255,000 units, in the second quarter. Tesla’s sales and output fell short of expectations for the first quarter of this year. Tesla’s stock has decreased 35% so far this year; analysts had forecasted a 46% increase. Lockdowns at Covid in China caused an unusual decline in … Read more
Nelson Piquet’s participation in the British Racing Drivers’ Club suspended. He used racially hostile language to allude to Lewis Hamilton. BRDC, which claims the Silverstone circuit that has the British Grand Prix, noted in a proclamation that Piquet had apologized to him. They apologized to the seven-times title holder yet said it had a zero-resistance … Read more
Formula One title pioneers Red Bull ended the agreement of Estonian hold driver Juri Vips. Tuesday after an examination concerning a racial slur made during a live stream. Vips was suspended last week after a video showed up via virtual entertainment of his remarks while gaming on the Twitch stage. He was sorry for his … Read more
Nelson Piquet used a racial slur in Portuguese while alluding to Lewis Hamilton’s crash with Max Verstappen. The triple Formula 1 world champion called for activity to change after the Brazilian made the mark. Hamilton, who was as of late granted privileged Brazilian citizenship and is the game’s just Black driver. He likewise said Hamilton … Read more
Hyundai Motor of South Korea has begun building a tiny electric car for India. Company executive would not say when the company’s small electric vehicle (EV) would be launched in India. EVs account for less than 1% of total automobile sales in India but government wants to increase that to 30% by 2030. Hyundai Motor … Read more
The Senate Standing Committee on Commerce voiced concern over the rise in anti-dumping duty (ADD) on steel bars. The committee was briefed by a senior official from the National Tariff Commission (NTC) on the commission’s role and budgetary proposals for fiscal year 2022-23. ISLAMABAD: The Senate Standing Committee on Commerce voiced worry on Friday over … Read more
The Mexican driver, who won the Monaco Grand Prix on Sunday, has now dedicated to the group for the rest of the 2024 season. Sergio Perez made a two-year agreement with Red Bull. Perez, 32, is presently third in the drivers’ big showdown standings subsequent to completing fourth a year ago. “For my purposes, this … Read more
Mercedes supervisor Toto Wolff has protected Lewis Hamilton after one more baffling day in 2022. Denouncing Fernando Alonso’s hold-up in the Monaco GP while additionally demanding the seven-time champion and George Russell are “a lot of on a similar speed”. Hamilton completed just eighth in Sunday’s excited wet-dry Monte Carlo undertaking, which is likewise where … Read more
Charles Leclerc hammered Ferrari’s methodology botches at the Monaco GP in the wake of diving from first to fourth, with the home most loved conceding his most recent smashing misfortune “harms a great deal”. Leclerc, the quickest man the entire end of the week, had looked prepared to at long last win in Monte Carlo … Read more
Charles Leclerc is focusing on a fantasy home win at the Monaco Grand Prix on Sunday, subsequent to getting shaft position, and Paul Di Resta accepts he is “in an alternate world” in qualifying. Leclerc beat Q1 and Q2 and afterward set the benchmark with a shocking early lap in Q3 of qualifying. He was … Read more
McLaren manager Zak Brown has conceded that Daniel Ricciardo’s exhibitions are not living up to the group’s assumptions, as the Australian keeps on being outdriven by colleague Lando Norris. Ricciardo joined McLaren toward the beginning of the 2021 season, with the group holding elevated standards having baited him away from Renault, who he enjoyed only … Read more
Japanese automaker Nissan is ending production of Datsun logo cars, less than a decade after reviving the famed finances car to woo cost-conscious clients in rising markets, the employer stated on Monday. “Nissan is focusing on core models and segments that bring the most benefit to customers, dealer partners, and the business,” it said in … Read more
Oklahoma Gov. Kevin Stitt is seeking to relax multibillion-dollar funding that might allow an unnamed agency to construct a new manufacturing unit within the nation. “We have the opportunity to land one of the largest factories in the entire country. Just a humongous, humongous factory with billions and billions of dollars worth of investment, thousands … Read more
According to the authorities, a big cargo ship with transporting cars sank in stormy waves in the Persian Gulf on Thursday. The Al Salmy 6, a vessel registered in the United Arab Emirates, sank off Iran’s southern coast with 30 crew members on board. Capt. Nizar Qaddoura of the Dubai-based Salem Al Makrani Cargo firm … Read more
WELLINGTON – Cars, boats and gallon bottles, New Zealanders were filling every tank with fuel before another big price hike tipped at the weekend. Petrol prices have already jumped up dramatically over the past month, which saw national average price of 91 petrol increase 11.8 percent to 2.94 New Zealand dollars per litre, and 23.1 … Read more
KARACHI: The demand for the automobiles in Pakistan has witnessed a significant surge in the last few years, resulting in an increase in oil consumption. In the wake of the higher oil prices in the international market, which are hovering around $100 due the recent Russia-Ukraine war, Pakistan’s foreign exchange reserves are under severe pressure. … Read more
WASHINGTON: The uncertainty created by Russia’s invasion of Ukraine and its impact on the global economy is piling more complexity onto the US central bank’s already tough fight to contain rising prices. Soaring energy and food costs have pushed inflation in the world’s largest economy to the highest pace in four decades, and the Federal … Read more
RIYADH: Egypt has ordered a state-owned company to work with a Chinese firm to build affordable electric vehicles priced at 315,000 Egyptian pounds ($20,000), Arab News reported. The Egyptian authorities have approached three potential companies to partner with the state-owned automobile company El Nasr Automotive Manufacturing on the project. It aims at investing 2 billion Egyptian pounds, Bloomberg reported, … Read more
DUBAI: Nissan is eco-friendly but also consumer-led, a top official from the Japanese automaker said in the wake of the company not signing a COP26 global pledge to phase out gas-guzzling cars, Arab News reported. As many as 30 national governments joined the deal struck in Glasgow last month, as the transportation industry races to fix decades … Read more
KARACHI: The National Electric Power Regulatory Authority (Nepra) has initiated proceedings to determine the tariff to be charged from electric vehicles by electric charging station, an official document suggests. The National Electric Vehicle Policy provides, “Nepra shall develop a policy to enact EV tariffs and to ensure compliance with EV standards and specifications.” “Therefore, the … Read more
KARACHI: The imports of used and old cars registered a massive growth of 153 per cent in July 2021 over the same month of the last year. According to the data released by the Pakistan Bureau of Statistics (PBS) on Friday, the imports of old and used cars increased to $33.03 million in July 2021, … Read more
KARACHI: The Auto Industry Development Plan (AIDP 2026), which is expected to be finalised by the first week of August, enables grounds for an expansionary cycle for the sector with new entrants coming in and existing players undertaking expansion. “The policy with relevant concessions eyed for setting up Hybrid Electrical Vehicles (HEV) and Electrical Vehicles … Read more
