TC Sep-Oct 2022 Issue

TRADE CHRONICLE Sep - Oct - 2022
Sales declined to 27 month low
of 11.0K units during Sep'22
As per the latest automobile sales
number by PAMA, auto sales showed a
decline of 6% MoM | 51% YoY to 10,953
during Sep’22, on account of i) a fall in
auto financing (down by 2.2% MoM),
and ii) higher car prices affecting
consumer affordability.
Besides, the measure taken by SBP to
curb imports are still intact; hence,
auto assemblers need prior permission
to import CKD units and raw materials
resulting in production limitations.
Further, PKR volatility and increased
international commodity prices
Atlas Group has achieved impressive
export sales during the last six months
Atlas Honda exported nearly 12,000
motorcycles while additional auto
parts of around US$ 2 million were also
exported by the group companies.
According to a statement issued by
the group, the breakthrough reflects
acceptability of Pakistan made auto
parts products in the international
markets.
“The company is looking at more
export markets for motorcycles and
parts in future. New parts and models
Indus Motor wins the prestigious MAP
Corporate Excellence Award 2022
At the 37th Corporate Excellence
Awards 2022 ceremony, hosted by
the Management Association of
Pakistan (MAP) in Karachi, Indus
Motor Company (IMC) won the Best
Corporate Excellence Award in the
Automobile Assembler Sector category.
The award, presented by Federal
Minister, Miftah Ismail, was received
by IMC CFO Mohammad Ibadullah.
The laurel recognizes IMC’s outstanding
performance while demonstrating
progressive management practices
in 2022. IMC has received the Best in
Sectoral Corporate Excellence Award
for the 7th time since 2010 and has also
won the Overall Industrial Corporate
Excellence Award four times.
Ali Asghar Jamali, the IMC’s Chief
Executive, said: “Excellence is more
than a set of year-end results; it’s a
remain a serious concern for
the Automobile sector. 1,300cc
segment and above portrayed a
setback in sales by (-17% MoM)
as Corolla and Yaris sales shrunk by
(-39% MoM). In addition, the sales of
Hyundai depicted a mammoth dip of
(50% MoM), when added up.
On the contrary, we witnessed a major
jump in 1,000cc segment sales by
(+95% MoM), led by the rise in Swift and
Wagon R sales, which elevated by 137%
MoM and 110% MoM, respectively.
INDU: INDU sales dipped by 32%, as
Corolla and Yaris sales shrunk by 39%
MoM to 1,780 units.
Atlas makes export breakthrough as it aspires
to enter Honda’s ‘Global Supply Chain’
are under
study for their
suitability
for export.
Evaluation criteria places special
emphasis on them having potential of
becoming part of the
global supply chain,”
said Afaq Ahmad,
representative of Atlas
Honda.
Afaq expressed hope
that the motorcycle
industry could
experience major
growth. This has
become possible
due to the high level
of localisation and
journey of
prevailing
attitude. It
is quite an
honour to receive this much
coveted award from MAP
once again, and for us, the
biggest contributor in this
crowning accomplishment
has been the “Toyota Way”.
This recognition signifies
IMC’s will, commitment, and
dedication to deliver on the
high expectations of all its
stakeholders consistently.”
The evaluation for the
Awards comprised four phases, i.e. (a)
shortlisting based on dividend payouts
during the last three years, (b) detailed
financial assessment, (c) review
of management practices, and (d)
management interviews. An impartial
third-party consultant was retained by
MAP to carry out the award evaluation
24
PSMC: PSMC sales augmented as it
portrayed an increase (of 52% MoM)
as consumers switched towards more
affordable cars.
HCAR: The dip in HCAR (by 29% MoM)
as Civic and City sales went down (by
16%) .
Tractors: The positive momentum
from last month remained short-lived,
registering a decline of 41% MoM to
2,349 in Sep’22. MTL remained a major
contributor to the decline as its sales
decreased by (-67% MoM).
and compile the results.
Courtesy - AHL Research
technology transfer from Japanese
companies like Honda, Hitachi, Denso
and GS Yuasa. The commitment to
quality, product reliability and focus on
enhancing exports remains a strategic
vision and mission for Atlas Honda.
The Corporate Excellence Awards was
instituted by MAP in 1982 with the
sole aim of recognizing and honouring
companies showing outstanding
performance and demonstrating
progress and enlightened management
practices.