How the sale of SUV cars in Pakistan impacts the economy?

The automobile industry is expanding at a rapid pace, and it is directly associated with various aspects of life like comfort, luxury, mobility, and security. Furthermore, it also paves new job opportunities, and the introduction of SUV Cars in Pakistan leads to employment either directly or indirectly. It has been observed that the global economy depends on the worldwide economy, and according to research, the automobile industry is responsible for 3 percent of the worldwide economy. 

It has been observed that the automobile industry is a driving force that pushes the economy to thrive and strive. As a whole, the sector is responsible for providing jobs to 3.5 million people. 

The history of the automobile sector of Pakistan can be divided into various phases. The first phase is referred to as the year 1947, and during this phase, the use of trucks was widespread. The year 1972 is referred to as the second phase during which efforts were made to privatize the sector, and the third stage is where the manufacturing of motorcycles and tractors was initiated. After this, various plants for assembling the automobile parts were set up, and a vendor community was formed. The current phase is referred to as the export era, where many luxury cars, including Compact SUVs, were exported or imported. The amalgamation of these phases led to an age where the vehicles were assembled in Pakistan. The sale of locally produced cars has increased by 71 percent, per the Pakistan Automotive Manufacturers Association in Pakistan. 

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In the previous years, the country was dependent on importing different car parts and assembling them in Pakistan. Today, the situation has taken a 360-degree shift because these cars can be manufactured in Pakistan without importing the necessary details. The luxury cars market in the country has rekindled hope for its exponential growth as today, people have started preferring comfort to luxury. The general public has started viewing the market from a completely different perspective. Luxury automobiles also revolutionized the concept of mobility and the transportation of goods. Because the policies put out by the government have a direct impact on the expansion of the automobile sector, the government and some stakeholders play a crucial role in redefining the automobile industry. 

In the coming years, this sector will follow a trajectory of growth and expansion. The profitability of economic development, the production of tax money, the encouragement of human development, and the promotion of innovation are all strongly correlated with the growth of the automobile industry. Pakistan must act appropriately in each situation to continue playing a significant part in the economy's expansion.