Pakistan Automobiles: Autos likely to post 21% YoY growth despite 11-month low volumes – By JS Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We preview automobile sales volumes for Jul-2025, expecting the three major players including Indus Motors Company Ltd (INDU), Honda Atlas Cars Ltd (HCAR), and Pak Suzuki Motor Company Ltd to post a growth of 21% YoY to 8.5k units, despite lowest monthly volumes since Aug-2024.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Volumes for the three major players are likely to see a massive drop of 54% MoM, primarily due to pre-budget buying in Jun 2025 ahead of anticipated tax hikes in FY26 Budget. Additionally, increase in sales tax on vehicles up to 850cc (40% of market) from 12.5% to 18% likely weighed heavily on demand in this segment during Jul-2025.</span></li></ul><ul><li><span style="font-family:Ar...