IMC outperforms market as Corolla, Fortuner sales remain strong

Indus Motor Company (IMC) has outperformed the market as Corolla & Fortuner sales remained strong in May 2018. According to research data, auto sales registered 5 percent growth YoY in May 2018 to clock in at 21,813 units where IMC outperformed the market as Corolla & Fortuner sales remained unbeaten.
Pak Suzuki sales grew by 5 percent YoY in May 2018 that was mainly driven by strong sales seen in brands like Swift (+52% YoY) Wagon R (+40%), and Ravi (+12% YoY). On the other hand, Mehran sales were up 5% YoY.
IMC recorded sales growth of 20% YoY in May 2018 driven by strong sales of Corolla (4,676 units) and Fortuner (508 units) during the month. The sales of Honda Car (HCAR) clocked in at 4,252 units, down 9% YoY mainly due to lower sales in Honda-BRV. Further, cumulative sales of Civic and City remained flat at around 3,750 units. Cumulatively, in 11M FY18, car sales grew by 21% YoY to 240,114 units by strong growth seen by various auto assemblers driven by rising auto financing and various cab schemes and improved macros.