Equity Analysis /

Pakistan Auto Sales: Admin measures continue to curtail demand in August

  • Automobile sales in Aug’22 indicate another slump in demand, continuing its downwards trajectory from the previous month

  • PSMC witnessed the largest decline in sales due to plant shutdowns; MTL outperformed peers in the tractor space

  • FY23 will be challenging amid both demand and supply-side concerns. We continue to prefer INDU (TP of PKR1,416/sh)

Abdul Ghani Mianoor
Intermarket Securities
13 September 2022


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