Pakistan’s automotive industry is beginning to bear the brunt of the shortage of the semiconductor chip as several popular vehicles have had their bookings suspended because of it. Kia Lucky Motors has also decided to suspend the bookings of the Picanto Automatic variant, as reported by Samaa TV.
Industry sources reportedly stated that the suspension of bookings is definitely due to the ongoing shortage of the chip, and added that while Kia and Suzuki are undergoing its adverse impact, other companies are likely to follow suit in terms of the production crunch.
The report projected that the delivery delay crisis is also likely to worsen over time due to the current supply chain and chip shortage issues. It highlighted that the chips are an important component of all modern vehicles as they control the functionality of the vehicle’s Electronic Control Unit which modulates its various electronic systems.
Due to this predicament, ‘own money’ on vehicles has also been rising at an exponential rate, as the vehicles have been selling for as much as Rs. 1 million over their original Manufacturer Suggested Retail Price.
These issues are not particular to Pakistan but are prevailing all over the world. It has been widely acknowledged that there will be a few months before the auto industry worldwide can recover from them, and this gives us all the more reason to prepare for the impending crisis in the car market of Pakistan.