Auto volumes to grow by 193pc in March

Karachi, April 06, 2021: Volumes of the three main listed OEMs are expected to increase by 193 percent YoY in Mar-2021 to ~20k units, compared to merely 6,830 units in the same month last year, where the latter coincided with the commencement of the lock-down phase.

On MoM basis, auto volumes are expected to surge by 27 percent MoM, compared to average MoM growth of 10 percent for the month of March during 2015-2019.

Indus Motor Company (INDU) is expected to record its highest ever monthly volumes (~6,700) on the back of pent-up demand and higher production during the month. Growth in sales of Corolla and Yaris are expected to be the main contributors, whereas a strong pickup is also anticipated for Hilux and Fortuner.

Pak Suzuki Motor Company (PSMC) is expected to sell over 10k units in March (14 percent MoM), where demand for the Alto is yet again expected to remain a major constituent for the company’s product mix (~46 percent of PSMC’s volumes).

Moreover, volumetric growth for Honda Atlas Cars (HCAR) is also expected to accelerate (30 percent MoM) given higher production days in March compared to February.

Finally, demand for tractors is also anticipated to increase during the month which is typically the case in March as it coincides with the sowing season.

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