'500k rise in volume of locally assembled cars likely by 2025'

Auto industry is expecting the increase in the volume of locally assembled cars to 0.5 million by 2025, following positive economic indicators, Chief Operating Officer (COO), Indus Motors Company (IMC) said, here on Tuesday. Talking to the Business Recorder at the sidelines of the launching ceremony of Toyota Fortuner and Hilux Revo held at Gulf and Country Club here.
Ali Asghar Jamali said that Pakistan was one of the fastest growing economies in the region, which he termed as good indicator for the auto industry hence it was expected that the volume of locally assembled cars would be increased to 0.5 million from existing 0.28 million per annum by 2025.
Moreover, he said that Pakistan had everything including good labour and conducive environment. "Everything should be made here in Pakistan," he added. Jamali said, "Toyota alone purchases Rs 140 million worth spares from local manufacturers per day, which makes around Rs 40 billion purchases every year," he added. Commenting on the impact of upcoming Free Trade Agreements (FTAs) - second round with China, Turkey and Thailand - on the local automobile industry, Jamali said that negotiations should be finalized considering protection of local industry. "We believe the local market should be given priority under slogan of Make in Pakistan," he added.
Jamali further said that everything is good in the country and one can attribute to any factor behind this growth, adding that overall policy was friendly the existing players should have been given similar incentives granted to the new entrants as the existing players were capable to produce results within just five years.
Talking about safety features, he said that IMC always followed Toyota International safety standards and both newly launched vehicles had all safety features. Jamali said Pakistan was a Toyota loving nation with a market share of 28 percent, and it was worth mentioning that Pakistan had been the highest Corolla selling nation in Asia Pacific region for six times, adding that more than 65 percent local cost component presently in Toyota Corolla.
In his keynote address, Hiroki Nakajima, Chief Engineer Hilux and Fortuner said in developing Hilux and Fortuner, the company had taken a radical approach to design, travelling across the world including Pakistan to observe and feel road conditions, drive patterns, traffic situations and listen to customers and dealers first hand.
"With exhaustive research and testing, we have developed the new Hilux and Fortuner with robust, all terrain capability with comfort and stress free driving experience like that of a car," he added. He said that the bigger tougher Hilux started from a new frame, an improved engine, new 6 speed transmission and a longer leaf suspension that offers more efficiency, stress free and comfortable drive.
At the event the significance of Hilux and Fortuner were highlighted which included several features such as Chrome Front Grill, alloy rims, high intensity fog lamps, chrome door handles, retractable sideview mirrors, steering with audio controls, LED Optitron Meters, Electrically adjustable driver seat, inside chrome handles, keyless entry, immobilizer, anti-lock brake system, impact absorbing design, and SRS front airbags.