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Suzuki Motor plans to invest around USD460 million into Pakistan

Pakistan: Japan based company Suzuki Motor plans to invest USD460 million into Pakistan if the government provides the correct incentives and amendments in its auto policy, the company said on Friday, 6th May 2016.

In the month of March’16 Pakistan government announced a new automobile policy that favours potential new players to enter in Pakistan automobile market, over prevailing manufacturers by offering them lower duties.

The Pakistan Suzuki Motor Company, which assembles Suzuki cars for the domestic market, said it had concerns that the new auto policy may "damage the incredible investment potential in the Pakistan automobile sector by existing players such as Pak Suzuki Motor Co".

Suzuki motor, investment would include establishment of a new passenger car manufacture plant on an "urgent basis" and from this plant Suzuki would introduce four new models within five years, including two new models by 2018.

According to a recent report published by TechSci Research, “Pakistan Tyre Market Forecast and Opportunities, 2020” Pakistan is a developing nation in Asia-Pacific, accounting for a population of over 185 million in 2015. As a result of increasing vehicle ownership, coupled with the growing road infrastructure in the country, tire market in Pakistan is expected to witness modest growth over the next five years. Tire market in the country is dominated by two-wheeler tire segment, followed by passenger car tire segment.

As per TechSci Research, Suzuki Motor planned investment in Pakistan automobile market, would help Company to expand its product portfolio in the country automobile market and will also simultaneously boost the OEM tire demand in the country.

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