Equity Analysis /

Pakistan Autos: May’22 - Dull sales in May despite normal working hours

  • Auto Industry sales clocked in at c 23,000 units, up 46% yoy (flattish mom), largely led by the Economy segment

  • PSMC led the yoy growth for the sector, touching c.12,200 units, followed by HCAR; MTL led the Tractor segment

  • We have a Marketweight stance on the Auto sector with a preference for INDU (TP of PKR1,416/sh)

Abdul Ghani Mianoor
Intermarket Securities
13 June 2022


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