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Auto sales higher by 8% MoM in October – Alfalah Securities Limited

Karachi: Pakistan Automotive Manufacturers Association (PAMA) has released local automobile industry’s sales and production numbers for October 2011.

According to Alfalah Securities Limited, the car sales have witnessed a significant growth of 24%YoY to 58,576 units in 4M (Jul-Oct) FY12) as compared to 47,143 units last year. Mehran model of Pak Suzuki reported sharp growth of 38% YoY growth to 34,877 units in 4MFY12 as against the sales of 25,279 units last year mainly due to orders of taxi scheme by the govt. of Punjab. Toyota Corolla sales increased by 6% YoY to 15,175 units as against 14,622 units in the same period last year. While Cuore sales declined by 19% YoY to 1,532 due to discontinuation of production from next year.

Market Outlook:
Sell on strength.

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