Pakistan’s automotive industry has forecast substantial development due to a drop in the country’s average earning age as a result of rapid digitalization.
Master Changan Motors’ Sales and Marketing Director (MD), Syed Shabbiruddin, remarked,
On average, the first paycheck was received by the previous generation at the age of 27 but now, the threshold has declined to 21 years, thanks to the opportunities arising from digitalization.
He mentioned in a presentation that the company is targeting clients between the ages of 25 and 64, and a high number of youngsters from Generation Z enter the lists of automobile owners every year.
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These individuals start working at an early age — usually at the age of 21 — and quickly progress through the social strata, Shabbiruddin added.
“[A] growing number of females in the corporate sector will also result in a notable increase in the proportion of females buying their own cars,” the MD claimed and added,
Each year, one in six affluent customers purchases a new car on average.
Moreover, the wealthy class is projected to grow to 21 million people by 2026, 27 million by 2031, and 29 million by 2036.
CEO of SI Global Noman Ahmed told The Express Tribune that the accelerated growth of online jobs has allowed youngsters to avail significantly better earning opportunities than the previous generations.
