Equity Analysis /
Pakistan

Pakistan Autos: Strong sales momentum continues in August

  • Auto sales clocked in at c.21,750 units in August, up a staggering c.85% yoy amid robust demand for PSMC vehicles

  • PSMC volumes doubled yoy, while sales for HCAR rose a sharp 40% mom amid commencement of new City deliveries

  • We prefer INDU (TP of PKR1,625/sh) and MTL (TP of PKR1,460/sh) as our top picks

Abdul Ghani Mianoor
Intermarket Securities
10 September 2021