Pakistan Autos_PSMC leading the way, (AKD Daily, Dec 13, 2022)
AKD Daily
Pakistan Autos: PSMC leading the way, (AKD Daily, Dec 13, 2022)
- The total industry sales in Nov’22 clocked in at 19,973 vehicles (-16%YoY/+27%MoM), consisting of 15,444 passenger cars (+1%YoY/+39%MoM), 2,947 LCVs (-12%YoY/+24%MoM), 296 trucks (-40%YoY/+15%MoM) and 46 buses (+15%YoY/-33%MoM). Sales in the month have recovered from October, owing to better inventory management by OEMs along with the low-base effect from last month.
- Segment-wise, the 1000cc segment emerged as the least favorite, remaining flat MoM while declining by 49%YoY. The 1300cc and above segment saw it volumes increase by 22%MoM along while declining by 28%YoY. The 800cc and below segment witnessed massive gains, amounting to +74%MoM and a 115% gain on a yearly basis.
- Amongst major OEMs, PSMC has undergone bumper production, hence sales have increased by 55%MoM and 46%YoY to clock in at 12,400 units. INDU/HCAR posted sales of 3,242/1,973 units respectively, culminating to a decrease of 49%/34%YoY, with INDU’s sales remaining flat MoM while HCAR recorded a healthy recovery of 38%MoM.
- Tractor sales have decreased by 34%MoM/73%YoY to clock in at 1,240 units in the month. AGTL’s sales continue to hemorrhage, clocking in at merely 137 units (-65%MoM), while MTL recorded sales of 1,103 units, down by 27%MoM. On a yearly basis, AGTL and MTL have witnessed declines of 90%/66%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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