11/11/2016
Total Sales in October remain largely flat
PAMA released auto sales numbers today for the month of October where the total auto sales (passenger cars plus LCVs, Vans and Jeeps) posted at around 16k units, remaining almost flat on a MoM comparison whilst decreasing by a hefty 19% on YoY basis.
· The strong fall in total auto sales on a YoY basis was mainly due to lower sales of LCVs, Vans and Jeeps declining by 61.8% YoY due to abnormally high sales in the same period last year on account of Rozgar scheme.
· In the passenger car segment, HCAR posted the highest growth in sales of 60% YoY and 8.5% MoM to 3k units due to the strong demand of new generation Civic.
· INDU’s sales, on the other hand, fell by 26.5% YoY and 15.6% MoM to around 4.02k units as the Corolla sales slowed down to 3.95k units, down by 19.5% YoY and 10% MoM.
· PSMC’s total sales grew by 5.1% MoM as the sales of WagonR continue to grow rising by 40% MoM and 87% YoY to 1.44k units. Moreover, the sales of Mehran also remained robust increasing by 20% MoM to 3.1k units.
· The tractor industry fared tremendously as the total sales for October increased by 93% YoY and 46% MoM to 4.64k units with MTL and AGTL’s total sales rising by 83.7% YoY AND 120% YoY respectively. The tractor sales are expected to remain high due to improved farmer economics.
· ATLH’s total bike sales grew by 15% YoY and 9.5% MoM to around 80.5k units which is the highest figure achieved by the company in a month. Considering the recent capacity expansion undertaken by the company, the sales of motor bikes are expected to remain at high level.
· The total sales of trucks and buses increased by 37% YoY and 1.6% MoM to 587 units. GHNL’s total sales grew by 110% YoY to 63 units whereas GHNI’s total sales increased to 170 units, up by 68.3% YoY. The sales of truck are expected to remain high due to continued demand arising from ongoing CPEC projects and other construction related activities.
