Aug’16: Auto sector continues to remain robust- By Shajar Capital Research

<ul><li><span style="font-size:medium;font-family:Arial, Helvetica, sans-serif;">Pakistan Automotive Manufacturers Association (PAMA) released automotive production and sales numbers for Aug&rsquo;16 which demonstrated total auto sales volume declining by 10%YoY but improving 29%MoM to 20,759 units.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Passenger car and LCV sales are down by 16%YoY/ up by 25%MoM in Aug&rsquo;16 which we attribute mainly to the culmination of Punjab Government&rsquo;s Taxi Scheme. Excluding the scheme, Aug&rsquo;16 sales have surged by 6%YoY.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Total auto-financing for Jul&rsquo;16 has reached to PkR111.46bn (Nov&rsquo;14: PKR70bn), level last observed in 2008. As per industry sourc...