EUR 3.54 For Business Accounts Only

Pakistan Autos: Highest ever car sales in FY17

• Pakistan’s Auto Industry sales posted decline of 6%YoY in Jun’17, mainly because of less working days due to Eid holidays. However, industry sales for FY17 posted a healthy 13% YoY growth ex-Apna Rozgar Scheme.

• Tractor sales posted a phenomenal 61%YoY growth in FY17, reaching a total of 54,361 units. For Jun’17, growth was largely driven by AGTL with sales of 1,516 units (34% share of Jun’17 sales), up by 38%YoY.

• Conducive environment for auto sales and another taxi scheme by Punjab government is likely to drive sales growth in FY18. Potential depreciation in currency could be a problem for PSMC having major concentration in entry segment while other OEMs have much stronger pricing power.