own money Archives - CarSpiritPK

Policymakers’ Love With the On-Money Devil

October 5, 2022October 5, 2022 - by UsmanAnsari - 5 Comments.

Time and time journalists & researchers have pointed out the malpractices in the auto sector, especially regarding the on-money (own/ premium). During all these years, policymakers made some cosmetic measures to show they are serious to curb this menace, but no concrete measure has ever been taken to tackle the devil.

International / News

Toyota Australia Trying to Stop “Scalpers” from Pushing Up Prices

September 2, 2022 - by UsmanAnsari - 5 Comments.

Toyota Australia is calling on consumer authorities to introduce regulations that would discourage buyers of near-new cars from selling their vehicles to make quick money and slam the brakes on “scalpers” as thousands of customers remain stuck in the queue.

General / Opinions

Delivery Delays are Nothing Less Than a Blessing for Assemblers

August 2, 2022April 18, 2023 - by UsmanAnsari - 7 Comments.

Delays in deliveries are a bad thing, both for customers as well as the assemblers. But who cares for reputation in an uncontrolled & disregarded market like ours where government and authorities nowhere seem to exist and customers are at the mercy of assemblers to be fleeced in whatever way possible.

General / Opinions

Woeful Delivery Periods of Local Assembled Cars in 2022

June 22, 2022August 2, 2022 - by UsmanAnsari - 10 Comments.

Woefully prolonged delivery periods is nothing new for the auto consumers of Pakistan. It has been like this ever since the local assembling of automobiles started in the country and is the root cause behind the existence of on-money/ premium culture in the market.

General / Opinions

100% Booking Amount will End On-Money Culture- Says IMC Chief

June 10, 2022August 5, 2022 - by UsmanAnsari - 10 Comments.

According to the CEO of Indus Motor Company (IMC) Ali Asghar Jamali, if car companies are allowed to charge full payment at the time of booking it would make the industry unattractive for investors.

News / Pakistan

Waiting Period of Locally Assembled Vehicles Reaches Up To 9 Months

February 14, 2022 - by UsmanAnsari - 6 Comments.

Due to restrictions on auto financing, high registration charges and soaring prices, the car delivery waiting period of various locally assembled vehicles has touched up to 9 months, according to a report published in Dawn.

News / Pakistan

Senate Committee Unhappy with High Car Prices, Prolonged Deliveries & On-Money

December 1, 2021 - by UsmanAnsari - 5 Comments.

The Senate Standing Committee on Industries and Production was unhappy about rising car prices and prolong delivery period that led to heavy premiums being charged by dealers on locally assembled vehicles.

News / Pakistan

PM Aide Decries Premium on New Car Sales

November 25, 2021 - by UsmanAnsari - 9 Comments.

The government has expressed concerns over the collection of premium (own/ on money) by auto industry players on the immediate delivery of new cars to customers.

General / Interesting / News / Opinions / Pakistan

90% of Cars in Pakistan are Sold at Premium/ Own/ On Money- Research

November 7, 2021August 5, 2022 - by UsmanAnsari - 23 Comments.

According to a recent research by Pakistan Institute of Development Economics (PIDE), it has been revealed that the automobile sector of Pakistan has made undocumented transactions worth Rs 150 billion to Rs 170 billion during last 5 years under the head of additional charges, also known as own/ premium, paid to the car dealers to get an immediate delivery. As per this research, around 80 to 90% of passenger vehicles in Pakistan are sold against premium/ on money.