Pakistan Automotive Manufacturers Association H.M. Shahzad said that auto sales dropped 51pc on an annual basis amid escalating prices, reported 24NewsHD TV channel.
The car sales declined in September by seven per cent on a month-on-month basis to about 13,000 units.
The reasons behind the decline are expensive auto financing and low purchasing power of consumers.
The latest numbers take the first-quarter sales to 34,472 units, down 50pc from a year ago.
As per reports, the key reason for the sharp decline in car sales is the restrictions imposed by the State Bank of Pakistan on the imports of completely knocked-down (CKD) kits, which are loose parts necessary to assemble a vehicle locally.
Pertinent to note that the move by the central bank is meant to control the outflow of dollars from the economy in view of the continuous drawdown on locally available foreign exchange.
Reporter Habib Khan