Pakistan auto sales: A strong quarter, a weak finish
Four-wheeler sales rose 19% in 1QFY27, but September's slowdown and uneven company performance leave the recovery unresolved.
Pakistan’s four-wheeler sales rose 19% year on year to 50,480 units in July–September 2026. But September’s slowdown shows the recovery is still uneven.
Passenger cars led quarterly growth, rising 43%, while light commercial vehicles, vans and jeeps fell 34%. Motorcycles, tractors and trucks provided additional support.
September was weaker than it looked
Reported four-wheeler sales fell 12% year on year and just 3% from August to 15,104 units. There’s a catch: Sazgar’s September submission included two months of sales, while August excluded its pending figures.
Across manufacturers excluding Sazgar, September sales fell approximately 19% month on month and 20% year on year. The headline therefore understates the weakness in that group.
The company split matters
- Indus Motor: September sales rose 31% year on year to 4,142 units, maintaining momentum.
- Pak Suzuki: Sales fell 46% to 4,862 units. Ravi’s discontinuation explains part of the decline; excluding Ravi from last year’s comparison, sales still dropped approximately 33%.
- Honda Atlas: Sales slipped 8% to 2,128 units, despite 52% quarterly growth.
- Sazgar: Quarterly Haval/Tank volumes declined 12%. Its combined August–September submission prevents a clean September comparison.
Beyond cars, growth held up
Quarterly two-wheeler sales increased 29%, tractors 38% and trucks 53%. Tractor momentum deserves qualification: PAMA links September’s sharp monthly rebound to the Punjab Green Tractor Scheme. PAMA commentary
The sector is recovering, but the headline is stronger than the finish. The next test is whether monthly growth broadens across assemblers—and whether higher volumes translate into stronger margins. Policy clarity remains important; PAMA continues to flag hesitation among manufacturers and buyers.
Sources: Arif Habib Limited’s 1QFY27 auto-sales summary and PAMA’s September 2026 release. Four-wheelers comprise cars, LCVs, vans, jeeps and separately reported EVs within the reporting dataset.