Intermarket Intel - Auto Sector Update: Industry Sales up 9%YoY in Mar'18
- Pakistan’s auto industry recorded sales of 22,380 units in Mar’18, up 9%YoY, taking 9MFY18 sales to 192,734 units, up 22%YoY. HCAR recorded its highest monthly sales ever (due to increased production capacity) while PSMC’s growth moderated (as high base affect kicked in). INDU’s sales, on the other hand, declined by 2%YoY amid capacity constraints.
- Tractor sales rose to 7,633 units in Mar’18, the highest since Jun’12 on account of current harvesting season, with both AGTL and MTL posting double-digit YoY growth. Market shares of AGTL and MTL remained at 40% and 60% in 9MFY18, respectively.
- Truck sales also rose by a massive 45% YoY to 937 units as construction activity picks up pace in the second half of fiscal year. Another noteworthy number is of ATLH, where it sold 109k bikes (up 27% YoY) in Mar’18, breaking its earlier record of 100k bikes set in Jan’18.
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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