portal
  Home About us Reports Charts News Custom Company Scan  
Report Charts News
*
Title Content
Economy&Goods
  Economy
  ConsumerGoods
  Food&Beverage
  Agriculture
Life Sciences
  Biotechnology
  Medical
  Pharmaceutical
Manufacturing
  Automotive
  Chemical
  Energy
  Machinery
  Material
  Metals & Minerals
Public Sector
  Environment
  Finance Service
  Infrastructure
  Logistics
  Real Estate
  Retailing
  Tourism
  Training
Technology And Media
  Electronics
  Internet
  Hardware
  Media
  Software
  Telecommunications

Tel: 0086-10-82600828
Fax: 0086-10-82601570
Email:


 China FAW plans to produce cars in Pakistan
 
CreateTime:2016-01-12     Source:Automotive News China Editor:liaoyan
Text Size:       
 
State-owned China FAW Group Corp. plans to start assembling cars in Pakistan to tap growing demand as measures to curb terrorism boost growth in the region.
 
The company seeks to sell 10,000 vehicles -- including vans, cars and pickups -- in 2018 after it begins local assembly of the V2 hatchback at year end, said Hilal Khan Afridi, CEO of Al-Haj FAW Motors Pvt., in an interview in Karachi.
 
Al-Haj FAW is the Chinese group's local venture and began selling imported V2's in January last year.
 
FAW will be the first carmaker in a decade to start assembling vehicles in Pakistan, where the economy is set to grow at the fastest pace since 2008 as Prime Minister Nawaz Sharif's government tackles power shortages and terrorism.
 
China's president, Xi Jinping, has also pledged to invest $45 billion (295 billion yuan) in the country, boosting the outlook for expansion.
 
"Initially we had a lot of difficulty to convince them to help us with technical expertise," said Afridi. "Now that the Chinese market has slowed down, they have increased their interest in international markets. It's a good sign for us."
 
Chinese spending on infrastructure may help Karachi-based Ghandhara Nissan double sales of Chinese Dongfeng trucks. Al-Haj FAW sold about 3,400 vans and pickups along with 535 locally assembled trucks last year. The company plans to invest $9.5 million to assemble cars in Pakistan.
 
"Things are looking up for the auto industry," says Ahmed Hanif Lakhani, analyst at Karachi-based Arif Habib. "The economy is growing and consumer demand is rising with low interest rates making leasing more feasible."
 
Pakistan's economy is estimated to expand 5.5 percent in the year to June, according to the Ministry of Finance. Car sales in the nation increased 52 percent to 15,724 vehicles in November from a year earlier, according to the Pakistan Automotive Manufacturers Association.

Related Reports
China Outdoor Gear Industry Report, 2016-2021
China Disposable Diaper Industry Report, 2016-2020
China TV Shopping Industry Report, 2016
China Ceramic Tile Industry Report, 2015-2018
Global and China Luxury Apparel Industry Report, 2015-2018
2005-2010 www.researchinchina.com All Rights Reserved 京ICP备05069564号-1