Equity Analysis /
Pakistan

Pakistan Autos: July sales update – Highest monthly sales since Oct' 2018

  • Auto sales clocked in at c.25,000 units in July, the highest since October 2018 likely due to pent-up demand from June

  • The sharp rise in volumes was led by PSMC and INDU, both achieving record level sales

  • We have an Overweight stance on both the Auto and Tractor OEMs

Abdul Ghani Mianoor
Intermarket Securities
11 August 2021