Local Automotive Industry Faces Downturn as Sales Plummet:
Pakistan’s automotive industry has witnessed a sharp decline in sales, with locally assembled new light vehicles experiencing an alarming 80% year-on-year drop in April 2023. According to data released by the Pakistan Automotive Manufacturers Association, only 4,463 units were sold during this period, leading to a cumulative sales decline of 66.5% for the year, reaching a meager 30,753 units. The industry is grappling with production shutdowns and halts, becoming a concerning trend across various sectors in the country.
Great Wall Motors Remains Resilient Amidst Challenges:
Shi Qingke, the vice president of Great Wall Motors (GWM), expressed confidence in the company’s ability to navigate the challenging landscape. While acknowledging the car parts shortages affecting the industry, Shi stated that Great Wall Motors had successfully mitigated the problem and had no issues with the supply chain. This resilience is noteworthy considering the unprecedented challenges faced not only by the automotive industry but also by import-dependent industries and manufacturing sectors as a whole in Pakistan.
Great Wall Motors’ Milestones in Pakistan:
Great Wall Motors made a significant impact in the Pakistani automotive industry with the inauguration of its first factory in Lahore on September 1st last year. Boasting an annual production capacity of 20,000 units, the factory signaled Great Wall Motors’ commitment to the Pakistani market. Furthermore, on November 17th, the GWM Haval H6 HEV, the “first locally assembled new energy hybrid model” in Pakistan, was officially introduced in Lahore. This groundbreaking achievement surpassed even the Japanese brands that have had a strong presence in Pakistan for several decades.
Driving Pakistan’s Transition to New Energy Vehicles:
Great Wall Motors aims to revolutionize Pakistan’s automotive industry by progressively introducing plug-in hybrids and fully electric models. By bringing the latest new energy technology to the country, Great Wall Motors seeks to facilitate Pakistan’s transition from traditional fuel-powered vehicles to more sustainable options. With a population of 220 million and a vehicle ownership rate of less than 20 per 1,000 people, Pakistan presents vast market potential, making it an attractive destination for foreign investors.
Collaborating for Success:
Great Wall Motors has partnered with Sazgar Engineering Works Limited, a local manufacturer, in its endeavor to penetrate the Pakistani market. Mian Muhammad Ali Hameed, COO of Sazgar Engineering Works Limited, highlighted the importance of introducing new energy sources in Pakistan’s auto sector and praised Great Wall Motors for its strong presence in this field. The partnership aims to challenge the dominance of Japanese brands in the light vehicle sector, offering Pakistani consumers a wider range of modern and energy-efficient vehicles.
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GWM Haval Gains Traction in the Pakistani Market:
Recent data reveals that the GWM Haval, a flagship model by Great Wall Motors, has gained significant traction in Pakistan. In the first four months of this year, 857 units were sold, securing a market share of 2.8% among foreign vehicle brands. Additionally, the GWM Haval holds a notable SUV segment share of 12.5%. Despite the overall market experiencing a 49% decline month-on-month, Great Wall Motors witnessed an impressive 94% month-on-month increase during the same period, showcasing the brand’s resilience and growing popularity in Pakistan.
The challenges faced by Pakistan’s automotive industry, Great Wall Motors has emerged as a leader, introducing innovative new energy vehicles and garnering market share. With a focus on localized manufacturing, the company aims to contribute to the technological revolution in Pakistan’s automotive manufacturing industry, while addressing employment concerns and providing quality vehicles to Pakistani consumers. As the industry continues to navigate the ongoing turbulence, Great Wall Motors remains poised to play a pivotal role in shaping the future of the Pakistani automotive landscape.
