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Articles for tag: American invoices, Audi, AUDI invoices, Audi prediction, Audi Q1 profits, automotive, Bombing, Electric Vehicles, excluding, Germany, highway, impacts, maintains, outlook, pricing, raising, sales, Sales EV, world car sales

May 5, 2025

News Desk

Audi maintains Outlook after raising Q1 sales, excluding pricing impacts

Listen to the article TECHNOLOGY: Audi, Volkswagen’s premium brand, confirmed its full prospect on Monday, reporting a 12.4% increase in first -month revenue driven by strong sales of electric vehicles. Specifically, the provision does not represent possible implications for US invoices. First quarter revenue at € 15.43 billion (\ 17.49 billion) in January – March compared to € 13.73 billion last year. The company expects revenue between 67.5 billion and € 72.5 billion for 2025 and a 7% and 9% margin. “The financial impact of import invoices, especially in the United States, cannot be assessed definitively,” Audi said in a

February 2, 2025

News Desk

Trump strikes Canada, Mexico and China with invoices. retaliation emerge

Listen to the article US President Donald Trump has announced sweeping new invoices for goods imported from Canada, Mexico and China, escalating commercial tensions with the country’s three largest commercial partners. Invoices, which are to come into force on Tuesday, include a 25% duty on imports from Canada and Mexico and a 10% invoice in Chinese goods. Canadian energy products will face a lower 10%contribution. Trump justified the move in response to illegal concerns about drug trafficking and trafficking, citing the International Emergency Emergency Law (IEEPA). “Today’s price announcement is necessary to keep China, Mexico and Canada responsible for their

June 21, 2024

News Desk

Telecommunications, automotive sector cry under the weight of the budget

Islamabad: Pakistan’s tax chief revealed on Thursday that the government has successfully resisted pressure from the International Monetary Fund to impose normal income tax rates on the real estate sector, which continues to enjoy a “very favorable” status. It was also revealed by the Ministry of Industry that the prices of hybrid and electric vehicles are expected to increase by 15% from July due to an increase in their taxes on these vehicles from 8.5% to 25%. Apart from the automotive sector, Pakistan’s diluted telecom sector has also raised hue and cry against the government’s decision to make them a

June 6, 2024

News Desk

The automotive sector is seeking tax rationalization

KARACHI: Experts have expressed serious concern over the plight of the auto industry and its future prospects while appealing to the government to check the massive influx of imported vehicles through tax rationalization. They said such a move would revitalize the local market, protect the interests of local car manufacturers and ensure sustainable livelihoods. “The auto industry has urged the government to look into it while taking measures in the upcoming budget to support the industry,” Indus Motor Company (IMC) managing director Ali Asghar Jamali said while addressing a group of reporters on Wednesday. He said the increase in duties

April 23, 2024

News Desk

The automotive industry requires urgent government support

LAHORE: The local auto industry has urged the new government to implement immediate measures to support the industry and restore investor confidence in Pakistan. “Currently, as many as 13 local brands collectively produce over 40 models with a total capacity of 500,000 units annually,” said Abdul Rehman Aizaz, President of the Pakistan Association of Auto Parts & Accessories Manufacturers (PAAPAM). However, he noted, the significant increase in used car imports poses serious challenges to the viability of the local auto industry, which has invested about $2.5 billion and contributed about Rs400 billion in taxes in FY2022 alone. He regrets that

February 10, 2024

News Desk

The automotive industry seeks growth through diversification

KARACHI: Amid the challenges facing the auto industry, several local companies have launched diversification strategies to mitigate losses and tap into new revenue streams. With the onset of the Covid-19 pandemic and subsequent import bans, numerous companies in the automotive sector, also known as the engineering industry, have turned to producing a diverse range of products to serve both national interests and their own profitability. Speaking to The Express Tribune, Auto Sector Expert and Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), former chairman and director of Mehran Commercial Enterprises, Mashood Khan said, “They can leverage their resources —

January 23, 2024

News Desk

Automotive experts are divided on the “Year of Localization” in 2024

KARACHI: As the automotive industry ponders the challenges of 2023, automotive experts are divided on whether 2024 should be designated as the ‘Year of Localization’ for sustainability. While some support a collective commitment by original equipment manufacturers (OEMs) to invest in local production and technology, others support a more integrated global approach. Speaking to The Express Tribune, Automotive Sector Specialist and Director, Mehran Commercial Enterprises, Mashood Khan, supports the concept of localization, highlighting its role in future businesses and aligning with global trends towards sustainability. Khan believes that making 2024 a pivotal year for the automotive sector, with a focus

November 6, 2023

News Desk

Export competitiveness in the automotive sector

KARACHI: The automotive sector in Pakistan is facing the brunt of the current economic crisis. Balance of payments challenges, which have led not only to import restrictions but also to an economic slowdown, have hit new car sales in the country. According to recent statistics shared by Pakwheels.com, car sales in the first quarter of the current financial year saw a 44% plunge, while bus sales fell by 32%. This raises questions about the performance of the auto sector, raising concerns about its flexibility as it is mostly inward-looking with negligible exports. I presented on international trade standards in the

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