Report
Abdul Ghani Mianoor

Pakistan Autos: June 2020 sales recover to pre-pandemic levels

In June 2020, Pakistan auto industry sales of 8,753 units (though down 50% yoy) posted a strong recovery compared to May’s sales of 4,527 units (up 93% mom). We attribute this to the pent-up demand post lockdown (March-May). Both premium carmakers, INDU and HCAR, saw a staggering increase in sales, by c.4.6x / 6.0x, compared with their sales in May. PSMC sales were up a relatively modest 9% mom to 3,912 units. FY20 sales are 111,928 units (down 53% yoy).
INDU sold 855 units of Corolla, while ...
Underlyings
Industrial Motor Co.

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 Co. Ltd.

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.

Provider
Tellimer
Tellimer

Tellimer provides an integrated suite of services focused on the world's developing markets. It offers world class investment research and local insights; end-to-end content distribution and analytics; market execution and corporate access; brokerage services across Fixed Income and Equities; and expert advisory services.

Tellimer is headquartered in London, UK, with additional offices in Dubai, Lagos, Nairobi, New York and Singapore. It is a division of Exotix Partners LLP.

Analysts
Abdul Ghani Mianoor

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