OLX was good for Rs. 370 billion in car sales in the past 6 months, Lahore Herald

OLX was good for Rs. 370 billion in car sales in the past 6 months

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In the past six months, the cars sold on the OLX platform have sold Rs. 370 billion, averaging Rs. 61 billion in monthly sales. The Pakistani division of OnLine eXchange, also known as The OLX group published the ‘Vehicle Category Report’, which describes the state of the auto industry in the country and, more specifically, people’s behavior and car options online .

According to the Pakistan Board of Investment, Pakistan’s auto industry contributes an average of 2.8% to the country’s GDP.

In addition, it brings Rs. 30 billion to the national treasury in terms of taxes and duties. “This is not surprising, as the automotive sector plays a leading role in the development of the economy,” the report said.

The automotive sector in Pakistan is a leader in product and process technologies in the manufacturing sector. Industry analysts have a positive outlook for the industry in the coming years, predicting an increase in automotive demand of up to 17% in 2021 and 24% in 2022.

The top auto-trading city is Karachi, according to the released report, which also states that the ads posted on the platform are seen by more than 80,000 buyers every day.

Comparable to the daily advertising trend, Karachi has the highest number of buyers visiting the platform with 19,038 buyers, followed by Lahore with 15,168 buyers.

The favorite cars of Pakistanis according to the frequency of the surveys are Suzuki (35%), Toyota (25%), Honda (17%), Daihatsu (7%), Nissan (5%), Mitsubishi (4%)). , Hyundai (2%) and Kia and Mazda (both at 1%).

“The popularity of car brands among buyers and sellers is almost equal, with Suzuki, Toyota, Honda and Daihatsu being the main brands to enter the market; However, Mitsubishi and Nissan have changed their positions in terms of buyer preference, while buyers prefer the former. instead of the latter, ‘the report said, adding:

The OLX car class has an average liquidity of 86%, which means that of all car ads posted on OLX, 86% are sold or only sellers get at least 4 or more responses from buyers on your ad on average.

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