Car sales up 39% in 11MFY25

Staff Report:

 Islamabad: Pakistan Car sales in Pakistan (as reported by PAMA) clocked in at 14,762 units in May 2025, reflecting a 35% YoY and 39% MoM rise.

MoM rise was mainly due to lower base as Apr 2025 saw road closure in Sindh (due to strikes over canal issues) which delayed deliveries and thus lower sales.

YoY growth is supported by a more stable macroeconomic environment, lower interest rates, easing inflation, and improving consumer sentiment.Pakistan Car Sales in October 2022 up 20%

This takes 11MFY25 sales to 126,226 units a 39% YoY rise from 90,545 units in 11MFY24.

Company wise: Sazgar Engineering (SAZEW) posted the highest MoM growth of 67% and an 18% YoY rise, mainly due to a low sales in April. The launch of the new facelift of HAVAL also supported higher sales. In 11MFY25, total sales surged 111% YoY to 9,495 units, up from 4,503 units in 11MFY24.

Indus Motor Company (INDU) posted a 2.4x YoY and 48% MoM increase in sales to 4,829 units — the highest monthly sales in nearly 3 years. This was driven by increased sales for Corolla, Yaris, and Cross which reached a 3 year high. Honda Atlas Cars (HCAR) saw a 69% YoY and 17% MoM rise to 2,005 units in May 2025.

 Pak Suzuki Motor Company (PSMC) posted a fall of 8% YoY while a rise of 38% MoM. While, Hyundai Nishat saw a 58% YoY and 45% MoM rise. 2 and 3 wheelers sales increased by 26% YoY and 11% MoM totaling to 150,175 units in May 2025 which was a 3-year high. This takes 11MFY25 sales to 1.4mn units, a 30% YoY rise. Road Prince numbers are still awaited which can raise the total by ~2k units.

The total tractor industry recorded sales of 2,184 units, a 29% YoY fall while 36% MoM rise. Tractor sale fell on YoY basis due to weak farm economics, in our view.

Truck and bus sales in May 2025 were up 147% YoY and 17% MoM, reaching 610 units. This takes 11MFY25 sales to 4,495 units a 92% rise from 2,345 units in 11MFY24.

Outlook: We expect momentum to continue in auto sales in FY26 based on the lower interest rates and pipeline of new models to be launched by companies across different engines i.e. Hybrid, Plugin Hybrid etc,” Topline said.