Pakistan Autos: Bolan, Ravi and Civic driving robust demand
​Pakistan Auto Industry sales posted a normalized growth of 14%YoY in 7MFY17 driven mainly by HCAR’s Civic and PSMC’s Bolan and Ravi (normalized growth of 53%YoY). We believe thriving Auto financing and rural incomes will continue to drive demand in the near term.
Pakistan Tractors continue to beat our expectations amid healthy Rabi crop output and expectation of good sugar cane yield. This, coupled with lower tractors retail prices has led to a whopping 76%YoY growth in tractor sales for 7MFY17.
Ghandhara Twins lead by GHNI (volumetric sales up by 104%YoY for 7MFY17) also continue to impress as Pakistan Truck sales grow by a phenomenal 50%YoY for 7MFY17 driven by both Public and Private infrastructure investment.
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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