Although the production and sales of new vehicles have been on the rise as of late, evidently so has the menace of ‘On-Money’ and late deliveries. Along with that, the customers have to buy cars that are at least double in price compared to last time when the dollar rate was around Rs. 152.
As per data shared by Pakistan Automotive Manufacturer’s Association (PAMA), up till the 9th month of the 2021 fiscal year, the automakers have collectively sold 106,439 units, whereas, during the same period last year, the number of units sold was 86,628.
It bears mentioning here that PAMA’s data only accounts for the production and sales figures achieved by Pak Suzuki Motor Company (PSMC), Toyota Indus Motor Company (IMC), Honda Atlas Cars (HCAR), and Hyundai Nishat. The sales figures of new car makers like KIA Lucky Motors, Prince-DFSK, Master-Changan, MG, and Al-Haj Proton are still unknown.
As per a media report, the buyers of the recently launched Hyundai Elantra have been told that their cars shall be delivered to them by September or October of 2021. If they desire an urgent delivery, they would have to pay a premium of Rs. 500,000.
Furthermore, Hyundai Nishat has shut down bookings for Tucson SUV on account of difficulties in importing CKD kits for the vehicle from Korea. The company has reported that they are not sure when the bookings shall restart.
The report added that the customers of KIA are also facing delivery delay issues, except for the manual variant of KIA Picanto and KIA Sportage Alpha. Whereas the delivery time of all other vehicles, including Picanto Automatic, other variants of Sportage, Sorento, and Carnival, can stretch up to 6 months. If the customers desire an early delivery, they have to pay a premium of up to Rs. 600,000.
As for Toyota IMC, the report states that Yaris’s delivery time is one and a half or two months while buyers will get Fortuner, Hilux, and Corolla after 4 to 5 months. The premium money on Toyota Yaris ranges between Rs. 30,000 and Rs. 40,000, while for Fortuner and Revo, it ranges between Rs. 450,000 and Rs. 500,000. For Corolla, the on-rate is Rs. 400,000.
For Honda customers, there are no delays in the deliveries of Honda City due to the low demand, whereas that of the Civic can take between 2 to 3 months. The reports also added that the company is expected to begin the bookings of the upcoming new Honda City model in May or June of 2021. The vehicle shall arrive around August 2021.
For PSMC, the delivery timing of Cultus is 90 days, while that of WagonR ranges between 60 to 90 days, followed by 30 to 60 days of the delivery time for the Suzuki Alto 660cc.
The new automakers, namely, Prince DFSK, Master-Changan, MG, and Al-Haj Proton, have also been facing delivery delay issues as of late. However, the rates of ‘On-Money’ – if any at all – are unknown as of this moment.