Pakistan’s Auto sales likely at ~26k units in Mar-22; up 29% MoM

Car sales of three listed players are expected to increase by 29% MoM to ~26k units in Mar-2022 due to improvement in supply chain disruptions. To note, car prices have increased by three times in FY22 but delivery period of most of the cars has not declined significantly, indicating pent-up demand.

This will take 9MFY22 volumes to 196k units recording robust growth of 50% YoY led by (1) Lifting of COVID-19 restrictions, (2) launching of new models, and (3) pickup in overall economic activity.

Indus Motors (INDU) is expected to record highest ever monthly sales of 7,132 units; up by 54% MoM mainly due to resumption of their halted production and increased rural economy.

Pak Suzuki (PSMC) is expected to record +15,000 unit sales for the third time in FY22 since its inception showing strong interest of customers in lower segment cars due to better affordability and fuel economy.

Honda Atlas Car’s (HCAR) sales are anticipated to increase by 31% MoM as company has begun delivering new shape Civic to customers, which was not the case in the previous month.

Pakistan Car sales on yearly basis for the month are expected to post a 30% growth in Mar-2022 due to aforementioned reasons.

Courtesy – AHCML Research

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