Monday, 12 Mar 2012 2:50 pm
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Auto Sector: monthly sales performance review
Pakistan Automotive Manufacturers Association (PAMA) has just released local automobile industry’s sales and production numbers for the month of February ‘12. As per the data, Auto sales of the industry witnessed substantial growth of 17 per cent YoY to 111,552 units in 8MFY12 as against the sales of 95,635 units in the corresponding period last year. Conversely, on monthly basis, industry sales have posted a modest drop of 27 units to 14,940 units in the month of February ’12 in comparison of 14,967 units in the previous month. Overall industry sales were higher because of the low based effect improved agricultural income.
Pak Suzuki Motor Company Limited (PSMC) has witnessed a 35 per cent YoY growth to 70,162 units in 8MFY12 as against the sales of 52,067 units in the same period last year. Highest growth was observed in the sales of Suzuki Swift of 86 per cent YoY to 4,500 units as against 2,420 units in the same period last year. Suzuki Cultus under the domain of 1000cc segment witnessed a handsome 38 per cent YoY jump in its sales to 9,573 units in the comparison of 6,919 units in the same period last year, followed by Suzuki Alto whose sales also experienced a massive 32 per cent growth to 9,854 units versus 7,438 units in the same period last year. Above all, Suzuki Mehran and Suzuki Bolan both segments posted growth of 37 per cent YoY and 47 per cent YoY respectively.
Indus Motor Company Limited (INDU) witnessed a four per cent YoY growth in sales to 34,366 units in 8MFY12 as against 32,991 units in the same period last year. Hilux, under pick up segment led the growth in sales of the company with a gigantic 88 per centYoY to 2,561units as against 1,374 units in the same period last year. Toyota Corolla posted an upsurge in sales by six per cent YoY to 29,040 units as against 27,423 units in the same period last year. Cuore remained as the only segment of the company whose sales experienced a substantial decline of 34 per cent YoY to 2,765 units as against sales of 4,194 units in the same period last year.
Honda Atlas Cars Pakistan Limited (HCAR) has posted a biggest decline in its sales of 33 per cent YoY to 7,024 units in 8MFY12 as against 10,444 units in the same period of previous year. The plunge in the sales of the Honda cars was primarily because of the substantially lower sales of its both brands Honda City and Civic. Sales of Honda Civic were decline by a massive 37 per cent YoY to 2,781 units as against the sales of 4,446 units while sales of Honda City were lower by 29 per cent YoY to 4,243 units as against 5,998 units in the same period last year. The main reason behind the decline in the sales of was suspended operation from December 2011 to February 2012 on the back of unavailability of the parts owing to floods in Thailand from where the company imports CKD kits.
As far as the market share is concerned, Pak Suzuki Motor Company leads the market with 63 per cent market share followed by Indus motor company and Honda Atlas Cars with 31 per cent and 6 per cent market share in 8MFY12.
Currently we recommend a HOLD stance on PSMC and INDU.
The writer is senior research analyst at Summit Capital. For comments and queries, contact profit@pakistantoday.com.pk
Pak Suzuki Motor Company Limited (PSMC) has witnessed a 35 per cent YoY growth to 70,162 units in 8MFY12 as against the sales of 52,067 units in the same period last year. Highest growth was observed in the sales of Suzuki Swift of 86 per cent YoY to 4,500 units as against 2,420 units in the same period last year. Suzuki Cultus under the domain of 1000cc segment witnessed a handsome 38 per cent YoY jump in its sales to 9,573 units in the comparison of 6,919 units in the same period last year, followed by Suzuki Alto whose sales also experienced a massive 32 per cent growth to 9,854 units versus 7,438 units in the same period last year. Above all, Suzuki Mehran and Suzuki Bolan both segments posted growth of 37 per cent YoY and 47 per cent YoY respectively.
Indus Motor Company Limited (INDU) witnessed a four per cent YoY growth in sales to 34,366 units in 8MFY12 as against 32,991 units in the same period last year. Hilux, under pick up segment led the growth in sales of the company with a gigantic 88 per centYoY to 2,561units as against 1,374 units in the same period last year. Toyota Corolla posted an upsurge in sales by six per cent YoY to 29,040 units as against 27,423 units in the same period last year. Cuore remained as the only segment of the company whose sales experienced a substantial decline of 34 per cent YoY to 2,765 units as against sales of 4,194 units in the same period last year.
Honda Atlas Cars Pakistan Limited (HCAR) has posted a biggest decline in its sales of 33 per cent YoY to 7,024 units in 8MFY12 as against 10,444 units in the same period of previous year. The plunge in the sales of the Honda cars was primarily because of the substantially lower sales of its both brands Honda City and Civic. Sales of Honda Civic were decline by a massive 37 per cent YoY to 2,781 units as against the sales of 4,446 units while sales of Honda City were lower by 29 per cent YoY to 4,243 units as against 5,998 units in the same period last year. The main reason behind the decline in the sales of was suspended operation from December 2011 to February 2012 on the back of unavailability of the parts owing to floods in Thailand from where the company imports CKD kits.
As far as the market share is concerned, Pak Suzuki Motor Company leads the market with 63 per cent market share followed by Indus motor company and Honda Atlas Cars with 31 per cent and 6 per cent market share in 8MFY12.
Currently we recommend a HOLD stance on PSMC and INDU.
The writer is senior research analyst at Summit Capital. For comments and queries, contact profit@pakistantoday.com.pk
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