Car companies have sustained heavy blows to their sales and revenues due to ongoing inflation and slowed production. As a result, several are downsizing operations to manage expenses and ensure their well-being.
Recently, Lucky Motor Corporation Limited (LMCL) publically announced the shutdown of four dealerships across Pakistan. The official press release did not highlight a reason for the shutdown.
The following dealerships have been closed:
Kia’s momentum has declined significantly compared to the last two years due to ongoing economic issues. The company was mentioned among Pakistan’s biggest carmakers in terms of market share up until mid-2022. But now, it is barely selling cars in the hundreds.
The company’s sales saw a minor increase in June, but not enough to make a difference. Although it is understandable as, under the current circumstances, all automakers in Pakistan are walking on wafer-thin ice.
