Aaj English TV

Tuesday, May 07, 2024  
28 Shawwal 1445  

Oil prices forcing people to get rid of vehicles

Dollar shortage and ban on LCs have also contributed to decline in car sales
File photo.
File photo.

With petroleum prices continuously rising, people across Pakistan are being forced to sell their vehicles.

Car dealers say that the ban shortage of dollars in the country has severely affected the import of vehicles and business has almost become non-existent.

Dealers told Aaj TV that dozens of dealerships and showrooms have been foced to closed and eight to 10 people come in trying to sell their car everyday.

Many car dealers also say that the ban on opening letters of credit (LCs) has bought car production in the country to a halt. This has also forced car sales to near zero levels.

According to statistics, there were 10,836 vehicles manufactured in the 1,000 cc category while only 10,126 were sold.

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Car Prices

Oil prices

car production

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