Pakistan Autos: For sales, CY18 ends on a sugar high
Dec’18 total industry sales of 19,915 vehicles (+10%MoM), consisting of 16,141 passenger cars (+5%MoM) and 3,304 LCVs (+52%MoM/+7%YoY), wrapping up a year of drastic operational shifts and coalescing headwinds
CY18 total industry sales of 264,091 units are constituted by 217,392 passenger vehicles (+7%YoY), 37,544 LCVs (+3.1%YoY), 8,175 trucks (-3.2%YoY) and 980 bus units (+14%YoY), where PC sales were reliant on hefty growth in low-mid segment vehicle market (800/1000/1300+ segments moves +8/+21/-5%YoY)
Amongst major OEMs, PSMC/INDU/HCAR sold 138,003/65,565/50,992 vehicles during the period, rising +6/+7/+8%YoY, implying annual plant utilization of 92/131/102% vs. 87/123/95% for CY17, as quarterly sales data was evenly split throughout the year, deviating from seasonal trends, as the sector dealt with heightened adversity (PkR devaluation, ban on sales to non-filers) as the year unfolded
OEMs were faced with tough choices in CY18, where we saw their response relegated to the sphere of pricing (INDU/PSMC/HCAR hiked prices by 19.4/17.4/18.9%YoY) and minor variant upgrades (automatic Cultus launched, manual BRV, 2.8L Fortuner) which have to be augmented with new model launches in CY19 to keep growth momentum intact
Pak Suzuki Motor is engaged in assembling, progressive manufacturing and marketing of Suzuki cars, pickups, vans, and 4X4 vehicles. Co.'s product models include Baleno, Margalla, Mehran, Kyber, Ravi Pickup, Bolan Van and Potohar Jeep.
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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