Pakistan Autos_Capping off a great year, (AKD Daily, Jul 18, 2022)
The total industry sales in Jun’22 clocked in at 36,557 vehicles (+91YoY/+29%MoM), consisting
of 28,378 passenger cars (+106%YoY/+24%MoM), 4,832 LCVs (+122YoY/38%MoM),
and 465 trucks (+32%YoY/+9%MoM).
Total industry sales for FY22 clocked in at 344,430 units (+46%YoY), consisting of 279,243
passenger vehicles (+55%YoY), 45,068 LCVs (+49%YoY) and 5,571 trucks (+51%YoY). The
volumes have shown a strong growth in the fiscal year, especially passenger vehicles
whose numbers have exceeded the previous high of 217k units in FY18. The effect of
stimulus provided in FY22 budget has been a key factor, with demand piled up for the
local OEMs.
Segment-wise, the 800cc and below segment emerged as the top performer, posting
growth of 82%YoY followed by 1000cc segment, growing 53%YoY and 1300cc+ premium
segment witnessing growth of 39%YoY. On the flipside, volumes remained flat on a MoM
basis for the 1,300cc+ segment, growing by 6%MoM ,while the 1,000cc/800cc segments
posted growths of 30%/41%MoM. In FY22, the sales data is clearly showing that low price
vehicles have grown at a better rate than higher priced ones.
Amongst major OEMs, PSMC posted sales of 150,288 units, growing by 71%YoY. Furthermore,
INDU/HCAR posted sales of 74,533/39,452 units, up 30%/35%YoY. On MoM basis,
INDU/PSMC/HCAR have posted growth of 7/31/34%MoM for Jun’22
On the macro perspective, we believe that the surge in volumes depicted in FY22 indicate
that the post FY22 budget euphoria has shown great impact on the demand in the industry.
Going forward, demand is likely to take a hit in FY23, due to monetary tightening by
the SBP and the additional taxes which will be imposed in FY23.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.