Pakistan’s automotive industry posted a strong rebound in the first eight months of FY25, with car sales reaching 89,770 units, reflecting a 50% annual growth, according to data released by the Pakistan Automotive Manufacturers Association (PAMA).
While overall momentum remains strong, February 2025 saw a slowdown, with total car sales dropping to 12,084 units, down 29% month-on-month (MoM) but still up 24% YoY.
The month-on-month decline was largely driven by a high base effect. January sales were unusually elevated due to seasonal purchasing shifts, with consumers delaying December deliveries for January registrations. Additionally, Sazgar Engineering Works (SAZEW) reported two months of sales in January, further inflating the comparative base.
In contrast, the YoY surge in volumes has been attributed to lower interest rates, improved consumer sentiment, and the launch of newer models and variants across the board.
| Company | Feb-25 Units | Feb-24 Units | YoY Change | Jan-25 Units | Sales so Far |
|---|---|---|---|---|---|
| Pak Suzuki (PSMC) | 5,330 | 4,885 | +9% | 8,250 | 45,080 |
| Indus Motor (INDU) | 2,611 | 2,038 | +28% | 3,335 | 18,487 |
| Honda Atlas (HCAR) | 2,054 | 1,517 | +35% | 2,210 | 11,348 |
| Hyundai Nishat | 1,052 | 780 | +35% | 1,044 | 6,338 |
| Sazgar (SAZEW) | 883 | 414 | +113% | 2,010 | 7,084 |
| Others | 154 | 491 | -69% | 2,171 | 1,105 |
| Total (PAMA) | 12,084 | 9,711 | +24% | 17,010 | 89,770 |
Non-PAMA member Kia Lucky Motors reportedly sold around 850 units in February 2025, according to channel checks by Topline Research.
Among major players, all posted YoY growth in February, while monthly declines were observed across the board—except Hyundai, which managed a slight MoM increase.
SAZEW stood out with a 2.13x YoY increase, although its February figure of 883 units represented a 56% MoM decline due to January’s inflated reporting that included two months of data. Its 8MFY25 sales totaled 7,084 units, up 2.66x YoY.
Pak Suzuki recorded 5,330 units, a 9% YoY rise, but sales fell 35% MoM, largely due to record Alto sales in January. Indus Motor and Honda Atlas both saw healthy YoY gains of 28% and 35%, respectively, though MoM volumes slipped. Hyundai sales edged up slightly MoM, while also rising 35% YoY.
| Company | Feb-25 Units | Feb-24 Units | YoY Change | Jan-25 Units | MoM Change | 8MFY25 Units | YoY Growth |
|---|---|---|---|---|---|---|---|
| Atlas Honda (ATLH) | 108,169 | 82,040 | +32% | 115,557 | -6% | 811,395 | +26% |
| Pak Suzuki (PSMC) | 2,359 | 1,446 | +63% | 2,348 | 0% | 16,269 | +58% |
| SAZEW | 2,654 | 1,524 | +74% | 5,092 | -48% | 17,585 | +79% |
| Others | 13,517 | 8,956 | +51% | 16,164 | -16% | 117,053 | +53% |
| Total | 126,699 | 93,970 | +35% | 139,161 | -9% | 962,315 | +30% |
Sales of two- and three-wheelers jumped 35% YoY in February, reaching 126,699 units, though they fell 9% MoM. Full data for Royal Prince Motorcycle and some three-wheelers remains pending.
Tractor sales dropped sharply to 1,534 units, reflecting a 54% YoY and 44% MoM decline. Meanwhile, truck and bus sales rose 38% YoY to 486 units, but still fell 22% MoM.
Despite the February dip, analysts remain optimistic about the sector’s trajectory. With lower financing costs, fresh model launches, and gradually improving macro conditions, auto demand is expected to remain strong in the coming months.