Pakistan Automobiles: May 2018 Auto Sales up 5% YoY - In-line with expectations
- Pakistan auto sales registered growth of 5% YoY in May 2018 to clock in at 21,813 units, which was largely in line with expectations. Indus Motors (INDU) outperformed the market as Corrolla & Fortuner sales remained strong.
- Pak Suzuki (PSMC) sales grew by 5% YoY in May 2018 that was mainly driven by strong sales seen in brands like Swift (+52% YoY) Wagon R (+40%), and Ravi (+12% YoY). On the other hand, Mehran sales was up 5% YoY.
- INDU recorded sales growth of 20% YoY in May 2018 driven by strong sales of Corrolla (4,676 units) and Fortuner (508 units) during the month.
- Sales of Honda Car (HCAR) clocked in at 4,252 units, down 9% YoY mainly due to lower sales in Honda-BRV. Further, cumulative sales of Civic and City remained flat at around 3,750 units.
- Cumulatively, in 11MFY18, car sales grew by 21% YoY to 240,114 units by strong growth seen by various auto assembler driven by rising auto financing and various cab schemes and improved macros.
Topline Securities is one of the fastest-growing brokerage houses in Pakistan. It has strong Equity Brokerage, Economic/ Equity Research, Commodity Trading and Corporate Finance & Advisory functions.
Topline Securities has been endowed with numerous awards by renowned international financial organizations. The highlights of which consists of the award for ‘Best Local Brokerage House of Pakistan’ by Asiamoney Brokers Poll (the largest Asia-focused equity services provider poll) in 2016 and ‘Best Equity Brokerage House’ by CFA Society Pakistan in 2015.
Previously, Topline Securities held the title for ‘Best Brokerage House’ for 4 consecutive years (2011-2014) by Asiamoney Brokers Poll. Other awards include the ‘Best Salesperson’ award by Asiamoney for 6 consecutive years (2011-2016), the ‘Arabia Fast Growth 500’ award and ‘Pakistan Fast Growth 100’ award in 2012 and 2013 by AllWorld Network.
JCR-VIS, a credit rating agency providing independent rating services in Pakistan has assigned initial rating of “A-2” for short term and “A” for long term to Topline Securities. Topline Securities is registered as Underwriter, Book Runner and Research Entity with Securities & Exchange Commission of Pakistan (SECP).
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.