Pakistan’s auto sales (cars, LCVs and jeeps) are likely to post stunning growth of 44% YoY in January, 2021. The sales estimates exclude KIA and Hyundai numbers.
Total sales during January are expected to be around 16,950 units compared to 11,787 units last year.
The 44% YoY jump would help increase auto sales to their highest monthly number, after a gap of 19 months thanks to rebound in automobile demand as low interest rates have spurred demand for car loans eventually boosting auto sales in the country.
On a MoM basis, sales in January are expected to jump 27%, primarily due to i) low base effect caused by supply-side issues amid the pandemic and ii) seasonal effect of the shallow demand at the year end.
Company-wise data shows Pak Suzuki (PSMC) sales are likely to increase to 9,000 units in January compared to 5,555 last year — highest growth of 62% YoY amongst major auto players.
On the other hand, Indus Motors (INDU) is likely to post sales of 5,500 units in January compared to 4,022 last year, up 37% YoY while HCAR is estimated to book sales of 2,450 units, up 11% YoY.
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