Stock Market Round up

Byline: SHABBIR H. KAZMI Pakistan Automotive Manufacturers Association (PAMA) has released the automobile production and sales figures for June 2011. Auto sales (cars, jeeps, LCVs) increase by nominal 3.4%YoY to 127,900 units during FY11. Car sales and LCV and Jeeps posted a growth of 3.2%YoY to 127.900 units and 4.8%YoY to 18,600 units. The budgetary measures taken by the government during the month of June this year affected auto sales in near term, as the auto assembling companies halted invoicing sales of vehicles, therefore during the month auto sales went down by enormous 43%MoM to 7,500 units. However, auto production still went up by 10%YoY to 154,000 units, pointing towards potential sales revival in the coming months.