Karachi, December 13, 2022 (PPI-OT): Pakistan Autos: PSMC leading the way

The total industry sales in Nov’22 clocked in at 19,973 vehicles (-16%YoY/+27%MoM), consisting of 15,444 passenger cars (+1%YoY/+39%MoM), 2,947 LCVs (-12%YoY/+24%MoM), 296 trucks (-40%YoY/+15%MoM) and 46 buses (+15%YoY/-33%MoM). Sales in the month have recovered from October, owing to better inventory management by OEMs along with the low-base effect from last month.

Segment-wise, the 1000cc segment emerged as the least favourite, remaining flat MoM while declining by 49%YoY. The 1300cc and above segment saw it volumes increase by 22%MoM along while declining by 28%YoY. The 800cc and below segment witnessed massive gains, amounting to +74%MoM and a 115% gain on a yearly basis.

Amongst major OEMs, PSMC has undergone bumper production, hence sales have increased by 55%MoM and 46%YoY to clock in at 12,400 units. INDU/HCAR posted sales of 3,242/1,973 units respectively, culminating to a decrease of 49%/34%YoY, with INDU’s sales remaining flat MoM while HCAR recorded a healthy recovery of 38%MoM.

Tractor sales have decreased by 34%MoM/73%YoY to clock in at 1,240 units in the month. AGTL’s sales continue to hemorrhage, clocking in at merely 137 units (-65%MoM), while MTL recorded sales of 1,103 units, down by 27%MoM. On a yearly basis, AGTL and MTL have witnessed declines of 90%/66%YoY.