By: Azee Securities Private Limited
In our today’s morning report we would analyze the performance of Pakistan automobile sector during the 5MFY16 as per the data released by Pakistan Automotive Manufacturers Association (PAMA) recently.
Sales robustly up 66%, production 58%: As per data available, auto sales including Car, LCV & Pickup surged by 66% to 93,570 units in 5MFY16 against 56,339 units in 5MFY15. The chief reasons behind this hike remain 1) Apna Rozgar scheme by Punjab government and 2) higher demand from consumer financing. Similarly, production increased by 58% to 94,882 units versus 59,980 units in 5MFY15 owing to higher production of Pak Suzuki and Indus motors.
November volume shows huge growth of 61% YoY: Auto sales also hike in the month of November as cumulative Car, LCV & Pickup sales up by 61% YoY to 19,029 units against 11,789 units sold in November 2014. Similarly, November production of Car, LCV & Pickup increase by 67% to 19,728 units compared to 11,839 units in November 2014. While on MoM basis, auto sales drop by 4% 19,029 units against 19,729 units sold in October 2015 due to year end phenomenon.