KARACHI, June 14: Prices of imported cars will not be significantly reduced even if they are assembled locally, said the president and CEO of DaimlerChrysler Middle East Nicholas Speeks while giving a presentation on company’s past, present and future, says a press release.

The presentation was jointly organised by the Management Association of Pakistan and the Pakistan German Business Forum here on Thursday. He further said his company had no plans to locally assemble Mercedes Benz.

Mr. Speeks emphasized that the main challenges being faced by automakers, include a worldwide increase in the prices of steel and crude oil, diversity in regional fuel economy regulations and the customers for personalised car models.

During the presentation he also touched upon the history of the organisation, introduced the board of management, shared the management model and outlined the profits and revenues of the different groups of the company.