Ghandhara Automobiles Limited

We preview automobile sales volumes for Aug-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 66% YoY to 11.5k units. On a MoM basis, volumes are likely to surge 35%.Cumulatively, our sample of three companies is expected to maintain strong double-digit volumetric growth momentum, rising 43% YoY to ~20k units during 2MFY26, despite adverse budgetary measures.On t ...

According to data from the Pakistan Automotive Manufacturing Association (PAMA), automobile sales in Jul’25 showed a sharp decline of 49%MoM in volumes for Passenger Cars, Light Commercial Vehicles (LCVs), and Jeeps, totaling 10,994 units. However, on a yearly basis sales experienced a 28% uptick as compared to the SPLY. INDU’s, HCAR’s and Hyundai’s market share in creased by 13ppts, 6ppts and 4ppts respectively, compared to the last month. Whereas, market share for, PSMC dec ...

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.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 s ...