KARACHI

A detailed research and survey report on 'The Booming Automotive Industry in Emerging Markets' was recently conducted and published by Carmudi. It provides a detailed look into the global state of automotive sales and how car purchasing behaviours have changed, due to the drastic increase in internet and mobile penetration, rising GDP, and the emergence of a middle class. The findings in this report are the results of Carmudi quantitative surveys conducted online with both car buyers and car dealers, and in-depth interviews with industry influencers throughout Pakistan.The study found that over 58pc of car dealers in Pakistan reported an increase in car sales over the past twelve months, while a close 41.7pc reported a decrease. According to the Pakistan Automotive Manufacturer's Association, local auto sales, including light commercial vehicles, grew by 72pc compared to the same month last year. One reason for the boom is the reduction in interest rates over the course of the year. That said, car financing still stands at less than 35pc of the total car sales in Pakistan.Car dealers are beginning to transition to the digital space to reach potential buyers. 25pc of dealers reported using websites to reach potential buyers, and 16.7pc are actively using Facebook. Car dealers have not started using Twitter or Instagram to reach potential consumers. Although the shift towards online is apparent, car dealers in Pakistan still have relatively high level of offline advertising, with 41.7pc of car dealers are still comfortable and majority focusing their listings on newspapers.