Pakistan auto sales fall in Jan 23

·         Total industry sales for the Jan’23 clocked in at 14,743 vehicles (-44%YoY/-19%MoM), consisting of 6,021 passenger cars (-65%YoY/-56%MoM), 4,846 LCVs and pickups (+34YoY/+52%MoM), and 398 trucks (-42%YoY/+79%MoM). The sequential drop in vehicle sales can be attributed to supply chain constraints with industry witnessing  frequent plant shutdowns. 

·         Segment-wise, 800cc & below emerged as least favorite segment during the month with overall sales dropping by 88%YoY while also contracting 92%MoM. The 1300cc & above segment remained flat on MoM basis but declined by 56%YoY, while 1,000cc segment contracted 55%YoY and 37%MoM. In 7MFY23, the volume of 800/1,000/1,300cc+ segment depicted a decline of 29%/65%/43%YoY.

·         Amongst the major OEMs, PSMC/INDU/HCAR posted sales of 2,946/3,570/2,704 units declining by 67%/47%/33%YoY. On MoM basis, INDU posted gain of 26%MoM followed by HCAR posting a gain of 30%MoM. On the flipside PSMC posted a decline of 74%MoM while also down by 67%YoY.

·         Tractor sales have increased by 236%MoM/-31%YoY to clock in at 3,406 units in the month. we have seen a healthy rise in the sales of AGTL and MTL, up by 134%/340%MoM to post sales of 1,203 and 2,203 units, respectively. On a yearly basis, MTL and AGTL witnessed decline of 27%/38%YoY.

Courtesy – AKD Research

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