By: Habib Metropolitan Financial Services Limited
Automobile Assembler: PAMA released the official statistics for the month of November’15 whereby car sales recorded an increment of 54% Y/Y in 5MFY16 to 75,805 units. The expansion in the period under review was fueled by Corolla sales, Apna Rozgar Scheme and pickup in auto financ‐ ing. However on a sequential basis, volumes remained almost stagnant at preceding month level of 15,724 units (↑ 0.1% M/M) which is in‐line with the historical trend. PSMC and HCAR volumes receded by 3% M/M and 19% M/M whereas INDU sales managed to inch up by a marginal 1% M/M.
LCVs and 4×4 segment witnessed a contraction of 18% M/M (↑ 149% Y/Y) owing to a slow down in Ravi sales. With the agriculture package in doldrums, tractors sales contin‐ ues to dwindle with 18% M/M decline to 3,305 units. A 7% M/M uptick in trucks volumes was driven by 80% growth in GHNL sales due to CPEC driven demand followed by a 13% M/M decrease in GHNI volumes. On the flip side, Motorcycle segment volumes jumped up by 28% Y/Y in 5MFY16 (↓ 3% M/M) to 374,024 units.