Pakistan Auto- Hard times persist, (AKD Daily, Feb 16, 2023)
AKD Daily
Pakistan Auto - Hard times persist
- Total industry sales for the Jan’23 clocked in at 14,743 vehicles (-44%YoY/-19%MoM), consisting of 6,021 passenger cars (-65%YoY/-56%MoM), 4,846 LCVs and pickups (+34YoY/+52%MoM), and 398 trucks (-42%YoY/+79%MoM). The sequential drop in vehicle sales can be attributed to supply chain constraints with industry witnessing frequent plant shutdowns.
- Segment-wise, 800cc & below emerged as least favorite segment during the month with overall sales dropping by 88%YoY while also contracting 92%MoM. The 1300cc & above segment remained flat on MoM basis but declined by 56%YoY, while 1,000cc segment contracted 55%YoY and 37%MoM. In 7MFY23, the volume of 800/1,000/1,300cc+ segment depicted a decline of 29%/65%/43%YoY.
- Amongst the major OEMs, PSMC/INDU/HCAR posted sales of 2,946/3,570/2,704 units declining by 67%/47%/33%YoY. On MoM basis, INDU posted gain of 26%MoM followed by HCAR posting a gain of 30%MoM. On the flipside PSMC posted a decline of 74%MoM while also down by 67%YoY.
- Tractor sales have increased by 236%MoM/-31%YoY to clock in at 3,406 units in the month. we have seen a healthy rise in the sales of AGTL and MTL, up by 134%/340%MoM to post sales of 1,203 and 2,203 units, respectively. On a yearly basis, MTL and AGTL witnessed decline of 27%/38%YoY.
AKD Research
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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