Category: Auto

– Honda Atlas Cars (HCAR) announced its financial results earlier today, posting a loss of PKR 511mn (EPS: PKR -3.58) during 1QMY21 compared with earnings of PKR 242mn (EPS: PKR 1.69) during 1QMY20. Profitability attrition can largely be attributed to subdued sales during the period under review. – HCAR’s revenues eroded by 64% YoY to PKR 6,512mn during… Continue reading HCAR starts year on a depressed note

Total automobile sales closed the year on a relatively high note, exhibiting recovery throughout the board. Jun20’s sales are likely a reflection of easing lockdown restrictions resulting in the fulfillment of order backlogs. We believe the pent-up demand influenced growth in all major automobile segments including HCAR (+514% MoM) and INDU (+363% MoM). A yearly… Continue reading Auto sales recover as lockdown eases

Automobile sales witnessed an unparalleled decline during Apr20, falling down to record low levels. Passenger vehicles were unable to register any sales during Apr20, highlighting the pandemic’s effect on the sector. The industry’s overall sales fell by 95% MoM to 4,896 units. The automobile industry was compelled to temporarily cease operations on account of the… Continue reading Automobile sales witness an unprecedented decline during Apr20