KARACHI: Automobile industry considered the mother of all industries in the engineering sector. United States General Motors opened the first automobile plant of Pakistan in year 1953.
The Japanese and Korean auto giants Toyota, Yamaha, Honda, Mazda, Nissan and Kia set their feet in Pakistan’s automobile market in 80s and 90s. Currently several joint ventures were in progress in Pakistan’s automobile sector including the Indus Motors joint venture with Toyota and Diahatsu Japan, Honda Atlas’ collaboration with Honda Japan, Pak Suzuki’s joining hands with Suzuki Japan and Diwan Farooq Motors joint venture auto production with Kia and Hyundai Korea.
Year 2004 proved a landmark year for Pakistan’s auto industry, as Adam Motors claimed to manufacture first Pak-made automobile.
Pakistan’s auto industry was growing at the rate of 40% per annum thanks to low interest car loans by commercial banks in the country. Pakistan’s automobile industry might produce 0.5 million units annually if the industry maintains its growth rate at 30% per annum level, business analysts said.