Asif Rizvi, the CEO of LMC, stated that the country had a desire for European automobiles.
Mr Mohammad Faisal, President of the LMC Automotive Division, stated that people have been driving imported European automobiles such as Audi, BMW, and Mercedes, and “now they have a European automobile on their menu.”
Peugeot 2008 may have an impact on the market share of the Kia Sportage, but, as Rizvi pointed out, “let them buy whatever they want because both of our cars are the same.” Both vehicles were SUVs, but they catered to quite different types of consumer needs. Sportage has a displacement of 2000cc and is a little larger. It is classified as a ‘C’ category SUV, but the 2008 model is classified as a ‘B’ category SUV.
Around the world, SUVs have been the fastest-growing vehicle segment, and LMC has followed a similar trajectory.
Several SUVs have been released in Pakistan as a result of the Auto Policy 2016-21, which provided tax breaks to new automobile manufacturers such as Kia, Changan, MG and others to get their operations up and running and to provide additional choices for buyers in the process. These enterprises also helped to end the monopoly held by Japanese automobile manufacturers in Pakistan’s automobile industry.
In response to a query about localization, Rizvi stated that Pakistan’s industries have fundamental problems that must be solved before real localization can be achieved.
It was impossible to achieve localisation if the government just expressed a desire to do so on the surface. Steel and plastic raisins, for example, are sectors that should be supported by the government.