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  "path": "/pakistan-car-sales-grow-strongly-in-feb-despite-monthly-dip",
  "publishedAt": "2026-03-10T12:30:05.000Z",
  "site": "https://nukta.com",
  "textContent": "\n\n\n\nPakistan’s automobile sales rose sharply from a year earlier in February but declined from January levels, as the market cooled after a seasonal surge in new-year registrations, brokerage houses said Tuesday.\n\nPassenger car sales totaled 17,121 units in February, up 42% year-on-year but down 26% month-on-month, according to data released by the Pakistan Automotive Manufacturers Association (PAMA).\n\nThe February performance brought cumulative car sales in the first eight months of fiscal year 2026 to 128,498 units, a 43% increase compared with 89,770 units in the same period last year.\n\nAnalysts at Intermarket Securities said the month-on-month drop largely reflected a high base in January, when buyers typically accelerate purchases to obtain new-year vehicle registrations, along with fewer working days in February.\n\n“The sequential decline largely reflects the January effect, where deferred consumer demand ahead of new model launches boosted sales earlier,” the brokerage said in a note.\n\nAt the same time, analysts at Topline Securities said year-on-year growth remained strong due to lower interest rates, easing inflation, improving macroeconomic sentiment and new entrants in the market.\n\nPassenger car sales climbed 51% from a year earlier to 13,388 units, while the LCV and pickup segment rose 17% to 3,733 units, according to brokerage estimates based on PAMA data.\n\n#### Company performance\n\nSales varied widely among major assemblers.\n\nPak Suzuki Motor Company remained the largest seller with 8,160 units, up 53% year-on-year but down 25% month-on-month.\n\nIndus Motor Company reported 3,817 units, marking a 46% increase year-on-year but a 25% monthly decline. Sales of its Corolla, Yaris and Cross models rose 70% year-on-year to 3,102 units, while Fortuner and IMV models fell 10% year-on-year to 715 units, partly due to growing competition from Chinese brands. The company maintained a 22% market share, analysts said.\n\nHonda Atlas Cars Pakistan sold 2,114 units, up 3% year-on-year but down 42% month-on-month. Sales of City and Civic sedans slipped 1% year-on-year to 1,861 units, while SUV models BR-V and HR-V climbed 42% year-on-year to 253 units. Honda’s market share fell 47 basis points to 12%, according to Intermarket Securities.\n\nSazgar Engineering Works posted the fastest growth, selling 1,682 vehicles, a 90% year-on-year jump, though sales declined 16% from January. The company’s three-wheeler sales were flat at 2,704 units.\n\nHyundai Nishat Motors was the only major assembler to post a year-on-year decline, selling 1,021 units, down 3%, though sales were broadly unchanged from the previous month.\n\n#### Motorcycles and other segments\n\nMotorcycle and three-wheeler sales totaled 159,512 units in February, up 24% year-on-year but down 12% month-on-month, bringing 8MFY26 volumes to about 1.3 million units, a 31% increase from the same period last year.\n\nMarket leader Atlas Honda sold 136,001 units, up 26% year-on-year but down 13% from January, giving it an 85% market share, analysts said.\n\nIn the agriculture segment, tractor sales rose 12% year-on-year but fell 31% month-on-month to 1,717 units, as deliveries under the Punjab tractor subsidy scheme neared completion and volumes normalized.\n\nMeanwhile, truck and bus sales increased 37% year-on-year but dropped 40% month-on-month to 664 units, reflecting the same January base effect.\n\nAnalysts expect the sector to maintain positive momentum through 2026, supported by lower interest rates, easing inflation and improving economic activity.\n\nIntermarket Securities said demand could also benefit from new hybrid and plug-in hybrid vehicle launches, though risks remain from intensifying competition from Chinese automakers and pending regulatory clarity on Pakistan’s New Energy Vehicles policy.\n\nTopline Securities added that potential supply disruptions to imported parts could arise if geopolitical tensions in the Middle East affect key shipping routes, posing a risk to local assemblers reliant on imported CKD kits.",
  "title": "Pakistan car sales grow strongly in Feb despite monthly dip"
}