Autos: Boom goes the small & mid-size segment
Total industry sales for outgoing April'18 reached 26,550 units rising +13.4%MoM/+38.6%YoY bolstered by impressive passenger car sales (+13.4%MoM/+35.8%YoY) and continued uptick in LCV & pickups offtake (+18.7%MoM/+63.3%YoY). Cumulative 10MFY18 total industry/car sales (226,588/182,911 Units) are comfortably exceeding FY17 sales (total industry/car sales of 221,748/185,781 Units), growing by +24.2%/+18.8%YoY. During the period, 35,359 LCV & Pickups were sold, climbing 64.6%YoY to reach the highest point ever during the period (10MFY18 sales matching previous high-water mark of FY16 annual sales of 36,350 units). 1000CC segment (+36.6%MoM/83.2%YoY for April'18) remains the bulwark for passenger car sales growth followed by 800cc & below (+26.0%MoM/+37.3%YoY) while 1300cc & above segment was holding steady. Cumulative segment distribution of 45.6%/22.7/31.7% for 1300CC+/1000CC/800CC & below (vs. 52.0/16.8/31.2% for 10MFY17) shows passenger car consumers favoring PSMC’s recent offerings (Wagon-R/Cultus sales +88.6%/+23.8%YoY). Matching our forecasts for robust LCV & pickups off-take, PSMC stands in a firm position to leverage 1000cc & below segment dominance as well, where its nascent models are benefiting from higher re-sale values, an indicator of positive buyer sentiments pertaining to quality, mileage and to some extent brand value.
Indus Motor is engaged in the assembly, progressive manufacture, import and marketing of Toyota motor vehicles. Co. is also the sole distributor of Toyota and Daihatsu vehicles in Pakistan.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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