Autos: Incumbents gear-up for competition
Awaiting monthly sales figures for a seasonally slow month, we look at developments on the ground concerning new variants launched, order books curtailed and activity base for new entrants. PSMCs recent launch of new vehicle offerings, the Mega Carry in the CBU pickup category and the auto gear shift Cultus AGS extend the OEMs drive to enhance quality. However, we believe the impact of these variants is expected to be minor, as the premium price point for both hinders sales growth, in our view. For INDU, the company expects robust demand from upcoming pre-election premium SUV buying spree, where the Fortuner and Revo variants are expected to deliver strong growth, buoyed by plans to introduce the 3.0L diesel variant of the Fortuner. As for new entrants, we present an updated snapshot of announces investment plans, while sector-wise FDI data until October'17 shows a minor increase for net FDI under Transport Equipment category where 4MFY18 cumulative net FDI of US$15.5mn is higher by 5.4%YoY.
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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