Auto imports reach record Rs. 75 billion during 2015-16

According to official numbers, imports of used cars have reached Rs.75 billion during the outgoing fiscal year. This year, 53,600 units were sold versus 32,100 units last year, reaching its all-time high. Nonetheless, the implications of rising imports are not encouraging, putting extensive pressure on country’s trade balance. Pakistan’s auto sales of locally produced cars have seen a huge jump of 17% during fiscal year 2015-16 on a yearly basis.