Pakistan automobile sales rise 40% in March

Pakistan's automobile sales rose sharply from a year earlier in March but declined from February levels, as the market moderated following two consecutive months of elevated volumes, data from the Pakistan Automotive Manufacturers Association showed.

The sales totaled 15,531 units in March, up 40% year-on-year but down 9% from February's 17,121 units. Passenger cars accounted for 11,755 of those, a 49% increase from a year earlier but a 10% decline from the previous month. LCV and SUV sales rose 19% year-on-year to 3,776 units, down 6% month-on-month.

The monthly dip was largely driven by a 23% month-on-month drop in Pak Suzuki sales, Myesha Sohail, an analyst at Topline Research, said.

She added that the rest of the market — stripping out Pak Suzuki — actually grew 4% from February, suggesting broader demand held up. The strong year-on-year growth, she said, was supported by new market entrants, lower interest rates, easing inflation, and improving macroeconomic sentiment.

The March performance brought cumulative passenger car sales in the first nine months of fiscal year 2026 to 144,030 units, a 43% increase from 100,868 units in the same period last year.

Across all segments — including motorcycles, tractors, and commercial vehicles — total industry volumes reached 185,738 units in March, up 32% year-on-year and 4% month-on-month, bringing nine-month cumulative volumes to approximately 1.6 million units, a 31% gain from the same period in FY25.

Company performance

Pak Suzuki Motor Company remained the largest seller with 6,250 units, up 38% year-on-year but down 23% from February. The Alto led the lineup with 4,571 units, up 48% year-on-year, while the Swift posted a 66% annual jump to 992 units despite a 39% monthly decline. The Cultus was the standout performer, rising 203% year-on-year to 294 units.

Indus Motor Company sold 3,873 units, up 24% year-on-year and broadly flat month-on-month with a 1% gain — the most resilient monthly performance among major assemblers. Corolla, Yaris, and Cross models together accounted for 3,145 units, up 32% year-on-year, while Fortuner and Hilux sales slipped 3% to 728 units.

Honda Atlas Cars Pakistan posted the strongest monthly performance among major players, selling 2,324 units — a 63% year-on-year jump and a 10% increase from February. Civic and City sales rose 71% year-on-year to 2,049 units, while BR-V and HR-V volumes climbed 18% to 275 units.

Sazgar Engineering Works sold 1,734 vehicles, up 84% year-on-year and 3% from February, with its Haval lineup accounting for nearly all volumes at 1,733 units.

Hyundai Nishat Motors was the only major assembler to post a year-on-year decline, selling 928 units, down 3% from March 2025 and 9% from February. Sonata and Santa Fe models saw the steepest drops, falling 59% and 74% year-on-year, respectively.

Tractor sales jump 96%

Motorcycle and three-wheeler sales totaled 166,633 units in March, up 31% year-on-year and 4% from February, bringing nine-month volumes to approximately 1.43 million units — a 31% increase from the same period in FY25.

Tractor sales posted a striking turnaround, rising 96% year-on-year and 63% month-on-month to 3,008 units, reversing a declining trend that had weighed on the segment through much of the fiscal year. Nine-month cumulative tractor volumes stood at 20,292 units, still down 13% from FY25 levels.

Truck and bus sales rose 23% year-on-year to 566 units, though volumes fell 15% from February.

Sohail said she expects positive momentum in auto sales to continue through 2026, supported by lower interest rates and the anticipated launch of new hybrid and plug-in hybrid models.