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Auto sales up by 21% MoM to 13.3k units

  • During Jun’24, the automotive industry experienced sales increasing to 13.3K units, depicting a 21% MoM increase and a staggering 120% YoY increase, as reported by PAMA. The total sales for FY24 reached 103.8K units, indicating a decline of 18% YoY compared to the 126.9K units reported in FY23.
  • The increase in sales was primarily fueled by positive economic indicators such as declining inflation with CPI in Jun’24 reaching to 12.6% leading to higher purchasing power and rising demand for auto financing, bolstered by a 150 bps decrease in policy rate to 20.5%.
  • Breaking down the segments, the 1,300cc and above category depicted an increase of 29% MoM, settling at 4,522 units. In addition, there was a 86% MoM jump in the 1,000cc segment, reaching 898 units. Furthermore, the below 1000cc segment witnessed an increase of 4% MoM, clocking in at 4,708 units.
  • Indus Motors Company Ltd (INDU) reported a  MoM increase of 44% in volumetric sales in Jun’24, clocking in at 2,957 units, which primarily due to a 47% MoM increase in Corolla, Yaris and Corolla Cross sales and 37% MoM increase in Fortuner and Hilux sales.
  • Pak Suzuki (PSMC), reported a 15% increase MoM, maintaining sales at 6,885 units. PSMC’s Cultus sales witnessed a surge of 130% MoM. In addition, sales of Swift, Wagon R, Alto and Ravi increased by 32%, 47%, 7% and 11%, respectively, on a MoM basis.
  • Moreover, Honda Atlas Cars (HCAR) depicted a 8% MoM decrease in Jun’24, on account of 18% MoM dip in Honda BRV/HRV sales and 6% MoM decrease in Civic/City sales, respectively.
  • Sazgar Engineering (SAZEW) registered a 12% MoM increase in sales, recording 871 units sold. This growth is primarily attributed to a 10% MoM increase in Haval sales.
  • Two-wheeler sales volumes declined by 25% MoM in June’24. Atlas Honda (ATLH) achieved sales of 80,204 units, showcasing a 22% MoM decrease.
  • Tractor sales depicted an increase of 34% on MoM basis in June’24. AGTL recorded a 94% MoM surge in sales, amounting to 1,416 units. Whereas, MTL reported a 16% MoM increase, arriving at 2,718 units.

Courtesy – AHL Research

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