China’s electric vehicle startup NIO guns for $2 billion IPO
HONG KONG: Chinese electric vehicle startup NIO has hired eight banks including Morgan Stanley and Goldman Sachs to work on a planned...
Heavy bikes imports surge 150 percent
KARACHI: Heavy bike imports have recorded a major surge due to major demand from Sindh and Punjab governments.
This increase in demand of...
DFML restarts manufacturing, brings back Daehan Shehzore
LAHORE: Yousuf Dewan Companies has re-launched its new Shehzore with the new name – Daehan Shehzore with increased capacity in collaboration with South...
Ride-hailing services adding to traffic congestion, clogging streets
BOSTON: One promise of ride-hailing companies like Uber and Lyft was fewer cars clogging city streets. But studies suggest the opposite: that...
Pakistan Auto Show to be held from March 2-4 in Lahore
LAHORE: The largest exhibition of automobiles in the country - The Pakistan Auto Show 2018 (PA18) is being held from March 2-4,...
Commerce Ministry suspends restriction on import of used cars
KARACHI: Ministry of Commerce and Textile has suspended Statuary Regulatory Order (SRO) 1027 on Friday that virtually brought the business of imported...
Ghandara Nissan may restart production of Datsun cars
ISLAMABAD: Ghandara Nissan is expected to get approval from the government under the Brownfield category to restart production of Datsun cars under...
Regulatory duty on steel, increased cost of production burdening auto industry
KARACHI: Increased input costs are putting immense pressure on the local auto industry, while Regulatory Duty (RD) on steel is playing a...
Careem acquires Middle East online restaurant listing platform, to trial food delivery
DUBAI:Â Careem, a Middle East competitor to Uber Technologies, said on Sunday it had acquired RoundMenu and would start trialling food delivery services...
Govt may temporarily reverse import policy on import of new/used cars
ISLAMABAD: The government is contemplating a reversal of Economic Coordination Committee’s (ECC) decision to lift moratorium on import of three-year old used...
General Motors to close auto plant in South Korea
DETROIT/SEOUL: General Motors Co said it will close one of its four plants in South Korea and incur an $850 million impairment...
Passenger car sales rise 22 percent rise during January
KARACHI: Passenger car sales posted a 22 percent increase in January 2018, touching 23,562 units against 20,884 units sold in January 2017.
Rupee’s...
Supply issues force Suzuki to suspend Wagon R booking
KARACHI:Â Pak Suzuki has notified its dealers to suspend the booking of Wagon R cars as the company is currently facing supply issues...
ERP upgrade halts Suzuki’s production for 12 days
KARACHI: Pak Suzuki has recently upgraded its Enterprise Resource Planning (ERP) to SAP from Oracle which resulted in a 12-day deadlock in...
Toyota Vitz was the highest imported car of 2017
KARACHI: A major spike of 70 percent was recorded in imports of used cars during 2017, touching 65,723 units compared to 38,676...