Automark

The all-new i20 features a completely new design inspired by Hyundai’s new ‘Sensuous Sportiness’ design language – the company’s first car in Europe to do so.

It is equipped with the most comprehensive connectivity equipment in the B–segment, and a best-in-class advanced safety package. For the first time it is available with an electrified 48-volt mild hybrid powertrain for optimised efficiency.

The all-new Hyundai i20 will be unveiled at 2020 Geneva International Motor Show.

Hyundai Motor’s all-new i20 features a revolutionary and ambitious design that follows the company’s new Sensuous Sportiness design language. With best-in-class connectivity features and the most comprehensive safety package in its class, it sets new standards for a B-segment car.

The all-new i20 is the third-generation of Hyundai’s successful model, which first launched in 2008.  One of Hyundai’s most successful models, the i20 stands for quality, reliability, and practicality. In addition to these core pillars, the all-new i20 introduces a completely new, dynamic style. The all-new i20 will be produced in Europe at Hyundai’s production plant in izmit, Turkey, and will be unveiled at the 2020 Geneva International Motor Show.

As well as a completely new exterior design, the all-new i20 has received a range of technological enhancements. There are two new 10.25” screens, consisting of a digital cluster and a navigation touchscreen, which are visually combined in the dashboard. Meanwhile, its segment-leading Hyundai SmartSense safety package includes alongside several new features a new generation Forward Collision-Avoidance Assist (FCA) that now offers pedestrian and cyclist detection for even more assurance on the road, as well as Navigation-based Smart Cruise Control (NSCC).

“Thanks to great quality, reliability and practicality, the i20 has continuously been one of the top sales drivers for Hyundai in Europe,” said Andreas-Christoph Hofmann, Vice President Marketing & Product at Hyundai Motor Europe. “The all-new i20 illustrates our ambition by delivering eye-catching design and comprehensive connectivity and safety to the B-segment.”

Sensuous Sportiness: Hyundai’s new, inspiring exterior design language

The all-new i20 is the first car in Europe to feature Hyundai’s ‘Sensuous Sportiness’ design language. It is characterised by the harmony between four fundamental elements: proportion, architecture, styling and technology. The purpose of this design direction is to create emotional value and to give Hyundai’s vehicles a distinctive new look.

Compared to its predecessor, the all-new i20’s proportions have been made more dynamic, while at the same time ensuring it is practical for navigating around busy urban areas. Its visual stance is improved by its lowered roof (-24mm), wider body (+30mm) and increased length (+5mm), while the wheelbase has also been increased by +10mm. This is further augmented by newly-designed 17” alloy wheels.

The all-new i20’s stylish character is emphasised with its dynamic-looking front and rear bumpers, as well as its new radiator grille. The side-view offers energetic proportions and a wedge style, which are amplified through a bold side character line and unique C-pillar design. Meanwhile, the redesigned unique lighting signature at the side connects seamlessly with the rear, emphasising the all-new i20’s width and stance. Together, these exterior features illustrate its modernity, while delivering a premium feeling for drivers.

All-new i20 customers can choose from 10 exterior colours overall, including four new ones:

Intense Blue, Aurora Gray, Aqua Turquoise and Brass. Moreover, the Phantom Black roof offers customers even more scope for personalisation with the option of a two-tone style.

Exterior colours:
ㆍ [New] Intense Blue
ㆍ [New] Aurora Gray
ㆍ Polar White
ㆍ Sleek Silver
ㆍ Phantom Black
ㆍ Dragon Red
ㆍ [New] Aqua Turquoise
ㆍ [New] Brass
ㆍ Tomato Red
ㆍ Slate Blue

An all-new interior offers enhanced aesthetics and provides a high-quality feeling

With a range of interior enhancements, all-new i20 customers can enjoy quality time inside their vehicle. Hyundai’s designers sought innovative aesthetic and technical solutions to convey its stylish proportions, while creating a fresh and appealing look.

The interior space achieves an airy feeling inside the cockpit, while appearing sculptured and appealing. One design highlight is the horizontal blades that cover the high and prominent dashboard. This gives it a very unconventional look by making the front fascia look slick and wide.

The all-new i20’s doors embrace the dashboard in an elegant, sensual way, having been inspired by shapes found in nature. The sculpture of the doors perfectly matches the instrument panel section. Its refined steering wheel is equipped with modern toggle switches, while its colour accents are also matched throughout the interior.

Occupants of the all-new i20 can also enjoy a pleasant interior lighting at night thanks to new LED ambient light technology.

In addition, customers can choose from three interior trims: Black Mono, Black & Gray, and Black Mono & Yellow Green for even more individualisation.

Increased roominess and visibility

The all-new i20’s dynamic proportions offer increased width and an enlarged wheelbase compared to the previous generation. This provides increased seating space for passengers in the rear. Boot space has been increased by +25 litres, offering 351 litres overall for luggage. Meanwhile, a decreased beltline and a small, quarter-fixed glass window behind the rear door provide drivers with improved visibility.

Best-in-class connectivity and premium sound quality

The all-new i20 offers best-in-class connectivity with a range of high-tech convenience features. Apple CarPlay and Android Auto, now offered wirelessly, enable customers to mirror the functionality of their iOS and Android smartphones. To increase the elegance and the visual comfort of the interior, the new 10.25’’ digital cluster and 10.25’’ centre touchscreen have been visually combined. The touchscreen also offers split-screen functionality for multitasking.

A wireless charging pad in the centre console means all-new i20 customers no longer need to use a cable to charge their smartphones. Additionally, a USB charging port is available for passengers in the rear. For even more in-car entertainment, the all-new i20 becomes the first Hyundai model in Europe to feature a premium Bose audio system. Eight speakers, including a sub-woofer, are strategically placed throughout the vehicle for a high-quality listening experience.

Bluelink Connected Car Services

The all-new i20 offers Hyundai’s Bluelink technology, which offers a wide range of Connected Car services such as Hyundai LIVE Services, as well as remote features via the Bluelink smartphone app. Bluelink comes with a free five-year subscription.

Features:

1. Hyundai LIVE Services: real-time traffic information powered by TomTom, fuel stations/parking spaces (with prices), speed cameras* and weather updates

2. Online voice recognition: powerful online (cloud-based) voice recognition with natural language understanding

Bluelink app services:

1. Find my car: drivers can locate their vehicle easily in an unfamiliar setting
2. Remote services: drivers can remotely lock their cars
3. Send to car (POI): search for local POIs and send results to car’s navigation system
4. Security: vehicle alarm notification
5. Maintenance: receiving vehicle report (e.g. tyre pressure), driving information

Available connectivity equipment:

ㆍ [New] 10.25” digital cluster
ㆍ [New] 10.25” AVN (audio/video/navigation) touchscreen
ㆍ [New] 8” touchscreen with Display Audio
ㆍ [New] Android Auto and Apple CarPlay (wireless in combination with Display Audio)
ㆍ [New] Wireless charging

The most comprehensive safety package in the segment

The all-new i20 is equipped with Hyundai SmartSense safety features and complies with the highest European safety standards. Many of these active safety features would not be expected to be found in B-segment cars.

The all-new i20 offers a range of new safety functions. One of these is Navigation-based Smart Cruise Control (NSCC), which uses the all-new i20’s navigation system to anticipate upcoming curves or straights on highways and adjusts the vehicle speed for safer driving. Another feature, Intelligent Speed Limit Assist (ISLA), alerts drivers through audio and visual warnings when they are driving too fast and exceed the speed limit. When combined with the manual speed limiter, ISLA can even adapt the speed autonomously. Lane Following Assist (LFA) automatically adjusts steering to help keep the all-new i20 centred in its lane of travel. Blind-spot Collision-avoidance Assist Warning (BCA) uses radar to monitor rear corners and, if another vehicle is detected, a visual alert appears on the exterior mirrors. Where necessary, BCA acts on the engine brake to avoid a collision or reduce the impact damage. Meanwhile, the upgraded Forward Collision-Avoidance Assist (FCA) function can now detect not only cars, but also pedestrians and cyclists.

The all-new i20’s safety package also protects drivers at low speeds, as well as offering increased parking convenience. Leading Vehicle Departure Alert (LDVA) warns the driver when the vehicle ahead of them starts moving forward in cases where there is a delay to their reaction, for example at traffic lights. Rear Cross-traffic Collision Assist (RCCA) sounds a warning in case of the risk of a rear collision from crossing vehicles while reversing. Meanwhile, Parking Collision-avoidance Assist – Reverse (PCA-R) automatically brakes in case of a collision risk. In addition, all-new i20 drivers also have Parking Assist (PA) at their disposal. PA allows for semi-autonomous parking, with a range of sensors and software working together to help drivers get into tight spaces.

Other safety features available with the all-new i20 include Lane Keep Assist (LKA), Driver Attention Warning (DAW) and High Beam Assist (HBA).

The all-new i20 will also be equipped with eCall, a system which allows the vehicle’s occupants to contact emergency services at the press of a button. In addition, the system activates automatically if the vehicle’s airbags are deployed. 

Available Hyundai SmartSense safety and driving assistance features:
ㆍ [New] Navigation-based Smart Cruise Control (NSCC)
ㆍ [New] Leading Vehicle Departure Alert (LDVA)
ㆍ [New] Lane Following Assist (LFA)
ㆍ [New] Blind-spot Collision-avoidance Assist (BCA)
ㆍ [New] Rear Cross-traffic Collision Assist (RCCA)
ㆍ [New] Parking Collision-Avoidance Assist – Reverse (PCA-R)
ㆍ [New] Parking Assist (PA)
ㆍ [New] Intelligent Speed Limit Assist (ISLA)
ㆍ Forward Collision-Avoidance Assist (FCA) – [New] now with pedestrian and cyclist detection
ㆍ Lane Keep Assist System (LKA)
ㆍ Driver Attention Warning (DAW)
ㆍ High Beam Assist (HBA)

A new engine line-up provides enhanced efficiency and performance

By offering two engines with three transmission choices, the all-new i20 caters for different drivers’ needs and delivers even more efficient driving.

At the top of the range, a 1.0 T-GDi is available with 100 PS or 120 PS. For the first time, a 48-volt mild hybrid powertrain can be applied on this engine, either as an option with the 100 PS or as standard with the 120 PS. The 48-volt system contributes to a 3-4% reduction of fuel consumption and CO2 emissions. In terms of transmission, the 48-volt system is available with a seven-speed dual clutch transmission (7DCT) or a newly developed six-speed Intelligent Manual Transmission (iMT). iMT decouples the engine from the transmission after the driver releases the accelerator, allowing the car to enter into coasting mode and saving fuel.

When not mated to the 48-volt mild hybrid system, the 1.0 T-GDi 100 PS is available with the 7DCT or a manual 6-speed gearbox. A 1.2-litre MPi 4-cylinder is also available as an entry engine. This offers 84 PS and a five-speed manual transmission.

Thanks to Its weight reduction of 4% compared to its predecessor, the all-new i20 ensures it has very competitive CO2 values. This also means it drives more economically without compromising on driving pleasure. In addition, features such as standard Idle Stop and Go illustrate its environmentally-conscious credentials.

Thanks to Its weight reduction of 4% compared to its predecessor, the all-new i20 ensures it has very competitive CO2 values. This also means it drives more economically without compromising on driving pleasure. In addition, features such as standard Idle Stop and Go illustrate its environmentally-conscious credentials.

Source: Hyundai Motor News Room

The BMW Vision M Next is just one of several concept cars that can be found on the main showroom floors of the 2020 Canadian International AutoShow at the Metro Toronto Convention Centre.

The 2020 Canadian International Auto-Show is underway, and it offers a stunning glimpse at the road ahead. 

The concept cars on display on both main show floors are both striking in their design and innovative in the technology they encapture. Sometimes they are wildly futuristic with a funky design and features we can only imagine actually seeing on the road.

Other times, they are a true vision of the next generation of cars and trucks. Either way, concept cars are always a popular draw at the AutoShow. 

Among the concepts on display at this year’s event: 

BMW Vision M Next— The latest concept car from the BMW Group is a sporty look at what is coming. This is BMW’s interpretation of how the BMW M may look, in the form of an eye-catching, electrified sports car. Designed to engage the driver, the Vision M NEXT demonstrates how state-of-the-art technology can create a pure and emotionally-dynamic driving experience.

Hyundai Vision T— This innovative plug-in hybrid is the cutting edge of SUV design. It expresses Hyundai’s evolving Sensuous Sportiness design language, using crisp geometric angles and strong wedge lines. The Vision T is as striking as a concept vehicle should be, while also providing a very clear indication of the brand’s next compact SUV, a vehicle that is much closer than you might think.

Hyundai 45— The 45 Concept foreshadows a new era of Hyundai’s automotive design focused on electrification, autonomous technologies and intelligent design. It features Hyundai’s next-generation, 800-volt battery-electric platform, which is to be applied to upcoming production vehicles.

INFINITI QS Inspiration— A sports sedan for the electrified era, this concept is a preview of a future INFINITI electric vehicle.  it offers a new perspective on sports sedans with an elevated driving position and high-performance electrified all-wheel drive power.

Lexus LF-30 Electrified Concept — The vision for the electrification of Lexus is contained in the LF-30 Electrified Concept. The car looks ahead to 2030 with advanced technologies like a steer-by-wire system and a human-centred cockpit design that amplifies the driving experience. 

Lexus LC Convertible — A concept that is making the jump to reality, meaning you will soon see it on the road — quite possibly before the end of this year. The LC Convertible is strikingly designed with unmatched refinement and breathtaking performance. 

Lexus GX Overland — With a retractable awning, a tent that gets pitched on top – even a shower stall that comes out — the GX Overland is a perfect mix of luxury and the rugged outdoors thanks to its off roading capabilities.

Toyota GR Supra Track Concept — Built on the return of the Supra to the Toyota lineup last year, this model features moe aggressive styling, additional features and more powerful inline-six engine.

VW MEB Chassis — Volkswagen is investing billions of dollars in its next generation of electric cars, the first of which will come to Canada sometime in 2021. The MEB chassis is a preview of what we can expect. This is a rare opportunity to see the parts of a car normally hidden underneath a sculpted body. Now that we’ve seen what’s underneath, hopes are we will see the whole car next year. Besides these new concepts, there is special historic concept occupying the place of honour in the Cobble Beach Classics exhibit. Imagine what car enthusiasts were thinking in 1959 when Chevrolet drew back the covers on the Corvette Stingray Concept, then take a trip down to the Chevrolet display to see how the Stingray has evolved with the 2020 convertible that made its Canadian debut here in Toronto.

Nissan, reeling from a scandal over its former superstar executive Carlos Ghosn, sank into red ink in the latest quarter as its vehicle sales fell around the world, and the Japanese automaker slashed its profit forecast for the year.

Nissan Motor Co. reported Thursday a loss of 26 billion yen ($237 million) for October-December, a reversal from the 70 billion yen profit recorded a year earlier.

Quarterly sales slipped nearly 18% to 2.5 trillion yen ($23 billion), as Nissan’s vehicle sales fell in Japan, the U.S., Europe and China.

Chief Executive Makoto Uchida told reporters at Nissan’s Yokohama headquarters that a turnaround plan was in place, with details to be released in May.

“The situation has worsened, but there is no moment to waste as we must keep investing in future products,” he said. “We are headed in the right direction, but it will take time.”

He acknowledged Thursday’s results didn’t take into account possible damage from production halts in China caused by the new virus outbreak, and further downward revisions may be coming.

Nissan’s plants in China have halted, although preparations are underway to resume production later in the month. But whether such restarts can happen remains uncertain, not just for Nissan but also other manufacturers in China.

Some production was being scaled back at Nissan’s Japan plants, although that was to be made up when the supply chain recovers, possibly next month, according to Nissan.

Nissan slashed its profit forecast for the fiscal year through March 2020, to 65 billion yen ($592 million), falling far short of its earlier forecast for a 110 billion yen ($1 billion) profit.

It now expects to sell 5.05 million vehicles globally for the fiscal year, a decrease of 4% from the previous forecast.

Shareholders will get zero yen in dividends for the latest quarter.

Nissan’s brand has been badly tarnished by Ghosn’s arrest in late 2018 on charges of under-reporting future compensation and of breach of trust in diverting company money for personal gain.

Ghosn, who has repeatedly said he is innocent, skipped bail late last year and is now in Lebanon. He held a news conference and accused Nissan officials of a conspiracy against him.

He has said Nissan and some Japanese government officials sought to block his attempts to realize a fuller merger with alliance partner Renault SA of France.

Nissan has sought to distance itself from the allegations against Ghosn. It filed a civil suit this week against him seeking damages. His lawyers have not yet commented on the suit.

In it, Nissan is accusing Ghosn of improperly using Nissan money for such things as overseas homes, use of corporate jets and consulting fees paid to Ghosn’s sister.

Nissan as a company must also stand trial in the criminal case in Japan. It does not have an extradition treaty with Lebanon and so Ghosn’s trial likely won’t go forward here.

Greg Kelly, an American former executive at Nissan who was implicated in the charges against Ghosn, will stand trial.

A date for the trial has not been set.Ghosn has said he fled because he could not get a fair trial. The conviction rate in Japan is higher than 99%.

Uchida took over the helm of the manufacturer of the Leaf electric car, Infiniti luxury models and the X-Trail SUV in December, replacing Ghosn’s successor, Hiroto Saikawa.

Courtesy: Manufacturing.Net

China’s auto market, the world’s largest, is likely to see sales slide more than 10% in the first half of the year due to the Corona-virus epidemic, the country’s top auto industry body told Reuters on Friday.

“We predict auto sales will drop by more than 10% in the first half of this year, and around 5% for the whole year if the epidemic is effectively contained before April,” Fu Bingfeng, executive vice chairman of the China Association of Automobile Manufacturers (CAAM), told Reuters in a written interview.

Its forecast is grimmer than an initial prediction made last month for a 2% dip in sales this year.

China has been a key market for global automakers from Volkswagen to General Motors, as well as domestic manufacturers Geely and SAIC Motor.

Tesla is also ramping up production from its $2 billion Shanghai factory.

Auto executives say the coronavirus, which has killed more than 1,380 people and infected nearly 64,000 in mainland China, is taking a severe toll on the industry, sapping buyer demand and disrupting supply chains for car makers globally.

CAAM, China’s top auto industry body, whose members include hundreds of automakers, suppliers and other companies in the sector, conducted a poll among members after the outbreak and submitted findings and suggestions to government, Fu said.

The association has asked the government to offer more policies to support the industry, such as changes to auto-related taxes, and moderately adjust interest rates and banks’ reserve requirement ratio, he said.

It has also asked Beijing to offer more fundraising support and credit lines to companies.

Auto sales in China, where more than 25 million vehicles were sold last year, likely fell around 18% in January from a year earlier, preliminary data from CAAM showed on Thursday.

Industry sales fell 8.2% last year, the second consecutive year of contraction, pressured by new emission standards in a shrinking economy and by trade tensions with the United States.

Courtesy: Auto.com

PROTON launched the 2020 Proton X70, the latest iteration of the automakers’ segment leading sports-utility-vehicle (SUV) today. Built on a completely new production line at its refurbished plant in Tanjung Malim, the 2020 Proton X70 brings a host of features and new technology that further increase the value proposition of the award winning vehicle.

As the first SUV to roll off the Tanjung Malim shop floor, PROTON set itself an extremely high target in terms of quality. The aim was to better the quality standards of the first generation vehicle, which is something the Company says they have achieved with the Malaysian-built SUV as product quality audits show it now exceeds the standards of its predecessor.

PROTON Chairman, Dato’ Seri Syed Faisal Albar said, “the 2020 Proton X70 is a significant accomplishment for us as it not only represents the first model off the new line but, also because we have matched and exceeded the quality standards of the model we launched 14 months ago”.

He added the SUV was especially important from a manufacturing perspective as it signalled PROTON was able to build vehicles to global quality standards. ”This represents a big step forward for us because it shows we are more than capable of delivering valuable product propositions of a global standard’, he added.

Enhanced Features and New Technology:
The 2020 Proton X70 brings with it several new features designed to further delight customers as well as new technology to make it an even more competent vehicle. These include an increase in torque output, an improvement in fuel economy as well as the introduction of a brand new gearbox.

The most important technological enhancement is the introduction of a seven-speed Dual Clutch Transmission (7-DCT) in place of the six-speed Automatic Transmission (6AT) previously used. Among others things and as a result of taller ratios, the new gearbox helps to reduce fuel consumption by 13% to 7.6l/100km. It also results in much smoother and quicker gear changes resulting in a superior driving experience.

Fitting the new 7-DCT gearbox allowed PROTON’s engineers to use a new engine map, boosting the torque output. The 2020 Proton X70 now delivers 5% more torque, bringing its measured twisting force up to 300Nm. Combined with the quicker shifting gearbox the SUV has shaved 1 second off its 0-100km/h time, allowing it to accomplish the century sprint in 9.5 seconds.

Aside from the mechanical improvements, PROTON also added enhancements to the interior. Premium and Premium X variants now receive ventilated front seats that allow cool air to circulate to the driver and front seat passenger.

Further enhancing the practicality of the 2020 Proton X70 is the inclusion of a powered tailgate, which is available from the Executive variant. The feature is height adjustable allowing for hassle free access to the boot compartment and is supplemented by a foot sensor for the top-two specification levels. Regardless of variant, the split folding rear seat back now has a recline function to adjust the rake of the rear seats and boost passenger comfort.

Built and tested with Malaysian customers in mind:
The 2020 Proton X70 was put through rigorous testing to ensure that it would meet the challenge posed by Malaysian roads and driving conditions. The SUV was put through its’ paces by PROTON’s development engineers with over 2 million kilometres of testing clocked in an effort to ensure the robustness of the vehicle and its systems.

Based on the way it performed while undergoing tests in Malaysia, the 2020 Proton X70 also received an improved ride thanks to adjustments that were done to the suspension. This has resulted in a more refined and nuanced driving experience, matching the premium class aspirations of the brand. PROTON also said a pivotal difference with their newest model is how many, if not all of the interior changes were made based on extensive customer feedback, garnered from both existing customers and focus groups.

“We wanted to ensure our customer’s needs were met with the 2020 Proton X70 and so many of the new features you see are based on what customers felt they wanted. This is critical for us because our success moving forward will be determined by how well we listen to our customers and more importantly, how quickly we can move to meet the demands of the market”, said Dr Li Chunrong, Chief Executive Officer of PROTON.

“The launch of the 2020 Proton X70 also brings the Company full circle in its current product cycle. In 2019 we launched updated versions of the Proton Persona, Iriz, Exora and Saga and after today’s event, every model sold by PROTON has been updated and is manufactured in Malaysia,” he added.

Four variants offer options at different price points:
Similar to its predecessor, the 2020 Proton X70 is offered in four distinct variants though the line-up has been altered. The Standard variant still kicks off the range followed by the Executive. The AWD Executive has been dropped so the next variant is the Premium with the all-new Premium X topping the range.

All variants are offered with the Integrated Cockpit Information System (GKUI) system that made its debut in the previous model. Featuring voice recognition via an 8-inch Android based touchscreen interface.

Keeping occupants safe is a comprehensive list of safety equipment. All variants are equipped with six SRS airbags, rear seat ISOFIX mounts with top tether anchorage, Anti-Lock Braking System (ABS), Electronic Brake Distribution (EBD), Brake Assist (BA), Auto Brake Hold, Electronic Stability Control (ESC), Traction Control System (TCS), Hill Hold Assist (HHA), Hill Descent Control (HDC) and Emergency Stop Signal (ESS).

As with the previous model, a 360 Camera is offered on Executive, Premium and Premium X variants but the Tyre Pressure Monitoring System (TPMS) and Advanced Driver Assistance System (ADAS) suite is only fitted to the latter two.

Consisting of active and cognitive safety systems including Autonomous Emergency Braking (AEB), Forward Collision Warning (FCW), Adaptive Cruise Control (ACC), Lane Departure Warning (LDW), Blind Spot Information System (BLIS), Door Opening Warning System (DOW) and Intelligent High Beam Control (IHBC), the ADAS suite provides an additional layer of safety helps reduce the risk of accidents. Overall, the comprehensive safety equipment provided on the 2020 Proton X70 has seen it awarded a 5-Star safety rating by ASEAN NCAP.

Toyota Indus is planning to launch the Toyota Yaris in early 2020. Toyota Yaris was first introduced as a sub-compact hatchback car in 1999. Later, Toyota introduced Yaris as a sedan car (also known as Toyota Vios) in multiple countries. Reports suggest that Indus Motor Company (IMC) will launch 1,300cc Toyota Yaris in Pakistan will be launched hopefully in March 2020. 

Toyota Yaris price in Pakistan will be kept near 23-25 lacs.

According to the vendors, they have already been asked to manufacture parts for Toyota Yaris and that the production has already started. Reports suggest that Toyota has given up on its plans of launching Toyota Vios, however, Yaris is likely to hit the roads in 6-8 months time.

The vendors, while talking to a private news channel, said that they plan on providing the parts to IMC by November or December this year so that the car can hit the markets in January or February next year but the launch is further extended.

Another vendor, on condition of anonymity, disclosed that the ‘vendors have already started parts development of Yaris’ despite the downward trend of the auto market.

The IMF mission has expressed concerns over corona-virus impact on Pakistan’s economy as spillover effect of slowing down of Chinese economy might negatively affect Islamabad’s GDP growth endeavors for the current fiscal year. However, Pakistani authorities rejected any negative impact on its economy in totality and argued that there would be no negative impact so the GDP growth target of 3.3 percent and inflation hovering around 11 to 12 percent must remain intact. 

The IMF projected Pakistan’s GDP growth at 2.4 percent and inflation around 11 to 12 percent for the current fiscal year.

The IMF team also kick-started exact costing exercise to ascertain financing requirements for achieving Sustainable Development Goals (SDGs) related to education, health, water and sanitation as well as provision of electricity till 2030. The initial rough estimates suggest that Pakistan requires additional 7 percent of GDP equivalent resources to meet ambitious targets under SDGs every year till 2030 to fulfill its commitment.

However, Pakistan and the IMF mission kick-started policy level talks to finalise policy prescription on fiscal, monetary, external and energy sectors and evolving consensus which could pave the way for striking staff level agreement with Pakistan and the IMF visiting mission.

Regarding coronavirus impact on Pakistan’s economy, the IMF mission raised this issue before Pakistani authorities fearing that it might result into further slowdown of the economy in the current fiscal year.

Pakistani authorities argued that there was need to understand linkages between Pakistan and Chinese economies before ascertaining its real impact.

China’s economic size stood at over $14 trillion having 16 percent share in global economy. The China’s GDP possessed contribution of agriculture sector to the tune of 8 percent, industry 40 percent and services sector by 52 percent. The Wuhan, the capital of Hubei province, that remained the worst hit area of coronavirus, possessed around 4.5 percent share in China’s overall GDP growth with contribution of industry 46 percent, service 43 percent and agriculture 11 percent. The major industries located in this area are related to automotive, textile, steel, iron, petrochemicals, electronics, food processing and manufacturing having major destinations of exports included USA, South Korea, Netherlands, India, Germany, Japan, UK, Singapore and Brazil.

Its major imports are from Japan, South Korea, Taiwan, US, Germany, Australia, Malaysia, Saudi Arabia and Brazil.

Now Pakistan’s share of export to China stood at $937 million or 7.6 percent while import from China was $4.9 billion (22.0 percent) during July-December period of the current financial year 2020. The major exports to China included food $216 million or 23.1 percent, raw material (7.1 percent; 67 million) and Textile (59.9 percent; $561 million).

The impact on Pak economy dependent on time length of handling coronavirus and its intensity of spreading in surroundings.

The import from China has already slowdown traditionally during severe winter season every year because the government closed down the Pak-China border on Nov 30 and opened on 1st week of April, because heavy snow made transportation impossible, so slow down in China will not negatively impact Pakistan immediately as traders have sufficient stocks of Chinese products, if the impact continues after April.

Our textile industry and exports may increase as Hubei’s textile is going to slow down and our textile industry may get more orders from global market.

It is expected that Chinese currency Yuan will depreciate 3 to 5 percent, import bill of Pakistan may decline $200 million to $300 million.

There is projection that commodity prices will decline e.g. crude oil and Palm oil/soya bean oil, these are our major import items, so their decline will have favorable impact on our trade balance and ease out inflation/domestic prices, they further argued.

Source: The News