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Intermarket Pulse: Pakistan Autos: Strong sales growth will be supported by government schemes in future
- Pakistan’s Auto Industry sales posted growth of 22%YoY in May’17, driven mainly by growth in LCV & Jeep sales (3,242 units, up by 83%YoY). Standout performances were recorded by HCAR’s Civic and BR-V and PSMC’s Wagon-R.
- Tractor sales posted a phenomenal 67%YoY growth in 11MFY17, reaching a total of 49,945 units. For May’17, growth was largely driven by MTL with sales of 3,413 units, up by 53%YoY.
- In FY18 Budget, Government of Punjab allocated PkR35bn for a taxi scheme where we believe PSMC should be the prime beneficiary with 50,000 additional cars. Government of Sindh also allocated PkR2bn for subsidies on tractors.
Provider
Intermarket Securities Limited
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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