Intermarket Pulse: Pakistan Autos: Moderate growth due to Ramadan factor
- Pakistan’s Auto industry registered sales of 21,813 units in May’18, up 5%YoY, translating 11MFY18 sales to 240,114 units, up 21%YoY. This was the industry’s slowest YoY growth for a month since Oct’17 due to usual lackluster activity observed during Ramadan.
- Tractor sales reached 6,753 units in May’18, up 19%YoY, as Kharif (summer) sowing season continues. Such numbers, however, can turn out to be unsustainable if concerns over water shortages materialize.
- With another round of PKR depreciation this month, INDU and HCAR will swiftly pass the effect while PSMC might delay the increase, in our view, due to underlying demand. Ban on sales to non-filers, however, can result in short term disruption in the market.
Honda Atlas Cars (Pakistan) Limited. Honda Atlas Cars (Pakistan) Limited is engaged in assembling and progressive manufacturing and sale of Honda vehicles and spare parts. The Company's segments include Manufacturing and Trading. The Company's Manufacturing segment relates to the sale of locally manufactured cars and parts. The Trading segment relates to the trading of completely built units (CBUs) and parts. The Company's factory is located at Multan Road, Manga Mandi, Lahore. The Company offers car models, such as Honda Accord, Honda CR-V, Honda CR-Z, Honda HR-V, Honda Civic (over four models), Honda City Aspire (over four models) and Honda City (over four models) in various colors with a range of technology features. The Company's cars are available in colors, including crystal black pearl, bold beige, taffeta white, urban titanium, modern steel metallic, habenaro red, alabaster silver metallic, camelian red pearl and white orchid pearl. The Company is a subsidiary of Honda Motor Co., Ltd., Japan.
Indus Motor is engaged in the assembly, progressive manufacture, import and marketing of Toyota motor vehicles. Co. is also the sole distributor of Toyota and Daihatsu vehicles in Pakistan.
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.
Intermarket Securities Limited (IMS) is a full service corporate brokerage firm based in Karachi, Pakistan. We service both domestic and international clients. IMS was ranked #2 Best Local Brokerage and #3 Best for Overall Country Research for 2016 by AsiaMoney.
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