Chapter 01
The Market
Pakistan bought 206,445 new cars, SUVs and pickups from the association's members in the year to June 2026, and 1.97 million motorcycles and rickshaws. One of those numbers is a record. The other is where the car market stood nine years ago.
The long view: every boom has been given back.
Cars, plus SUVs, pickups and vans, sold by association members each fiscal year since 1998-99.
Two records, four laggards.
FY26 sales of each vehicle type as a share of that type's best year ever.
July to September 2026
Three months, three steps down.
The first quarter of the new fiscal year looks strong against a weak quarter a year ago: cars up 43%. Read month by month it is a staircase going the wrong way, and September fell below last September.
Cars sold each month.
Association members, this year against last. Last July was hit by a tax rise on small cars.
Winners and losers of the quarter.
Units sold, July–September 2026 against July–September 2025.
more cars and SUVs built than sold in the quarter: 59,548 off the line, 50,480 out of the showroom. In September alone production rose 28% on August while sales fell 20%.
Hyundai Tucson: 224 sold in the quarter against 1,738. The whole SUV and pickup segment fell 34%, part of it because the Suzuki Ravi pickup, 2,652 a year ago, no longer exists.
two- and three-wheelers in September, the first month ever above 200,000. Tractors jumped 73% in a month on Punjab's new subsidy scheme.
Built-versus-sold and percentage changes are our arithmetic from the association's sheet.
The best sellers of FY26.
Units sold, with the previous year underneath. The association bundles some models into one row, so Toyota's three sedans and crossovers, Honda's two sedans and Haval's whole range each appear as a single line.
A market of two halves.
The 206,445 by size. A third are 660cc; the 1,000cc middle has all but vanished.
One car is four in ten.
The Alto sold 62,035, which is 40% of every car the association counted. Nothing else under Rs4 million exists in volume. Above it, the Swift, the City and the Yaris hold the middle, and then the market jumps straight to crossovers.
The 1,000cc class, once the Cultus and WagonR's 46,000 a year, is down to 4,953.
The real mass market
Pakistan moves on two wheels.
For every new car sold, nearly ten motorcycles and rickshaws leave the factories that report. There are 30.5 million motorcycles on the registers and 4.9 million cars.
Two- and three-wheelers sold.
Association members by fiscal year. Dozens of smaller assemblers of Chinese kits are not members and are not counted.
One maker, 86 in every 100.
Units sold in FY26 by member.
The Honda CD70, the country's default vehicle. About two months of the average household's income, where the cheapest car is three years.
electric motorcycles to be subsidised under the federal PAVE scheme, with 3,170 electric rickshaws and loaders, from a Rs9 billion pot. Electric two-wheeler sales are said to have tripled in a year; no industry-wide count is published.
Sazgar rickshaws in FY26. The company that sells Haval SUVs is also the largest three-wheeler maker in the tables, which is how it funded the leap.
How much of each factory is working.
FY26 production as a share of installed capacity. SUV and pickup lines are full; car lines are less than half used; truck, tractor and bus plants are mostly idle.
Trucks and tractors, by maker.
Units sold in FY26.
Tractors live and die by government support schemes. Sales went from 45,911 in FY24 to 29,192 in FY25, stayed flat in FY26 while buyers waited for a new scheme, and jumped in September 2026 when Punjab announced one.
Read this before quoting any total
The missing fifth: what the association's tables leave out.
Every headline number comes from an association that half the brands on sale do not belong to. But the government's statistics office counts every plant in the country. Set the two counts side by side and the gap is the brands that do not report.
Built by members, and built by everyone else.
Cars, jeeps and light commercial vehicles assembled each fiscal year. The top band is the difference between the official count and the association's: Kia, Changan, MG, Omoda-Jaecoo and the smaller assemblers.
The whole market in FY26, pieced together.
About 306,000 new and imported vehicles, on Toyota's assembler's own statement that its 45,035 units were 14.7% of the market.
vehicles built in FY26 by assemblers outside the association, up from 26,849 the year before and 3,680 in FY19. That is 19 of every 100 made in the country, and more than Toyota's assembler built.
Two brands have named a number.
Changan says it sold 13,391 in FY25 and about 9,000 more in the seven months to February 2026: call it 15,000 a year. Omoda and Jaecoo, new in August 2025, say their Faisalabad line built 10,000 vehicles between 2 December 2025 and early August 2026; about seven-eighths of that falls inside FY26. Both are press releases, read in full, audited by no one.
And who is not: BYD.
BYD assembles nothing here yet, so it is not in the production count. Its partner Hub Power's audited accounts give its sales after tax: Rs56.8 billion in the year to June 2026, against Rs10.9 billion the year before. If the average car brought in Rs8.75–11.35 million, that is roughly 5,000 to 6,500 imported cars.
The 47,873, split as far as it will go.
Vehicles built outside the association in FY26. Two slices are the companies' own statements; the third is only what is left.
Kia and MG: two ceilings, no count.
About 24,000 vehicles are left for Kia, MG, Chery, Proton, Prince and the rest together. Kia's parent, Lucky Cement, reports its cars in one segment with Samsung phones: net sales of Rs182 billion in FY26, up 34%. If all of it were cars at Rs7.5 million each after sales tax, that would also be about 24,000, and it is not all cars. So Kia built fewer than 24,000, by two routes. MG publishes nothing at all, and only began assembling its new HS hybrids in late July 2026.
We looked for a way to split them in Lucky's annual report, both rating agencies' sector studies and the Engineering Development Board's list of assemblers. None gives a unit figure. Provincial registration records would.
The used cars.
About 38,000 arrived in FY26 and 42,000 the year before, by Toyota's assembler's count: equal to 19% of the members' market. Dealers could not import them commercially until September 2025; in September 2026 they brought in 2,276 in a month.
The other built-up imports.
A former chairman of the parts makers says the leading Chinese companies now bring in 1,500 to 2,000 new-energy cars a month. Chinese customs data show 12,513 small plug-in hybrid wagons shipped to Pakistan in January–June 2026, eight and a half times the year before.
Claim and customs data, via the pressMotorcycles and trucks too.
The official count has 2,416,632 motorcycles built in FY26 against 1,974,667 two- and three-wheelers in the association's tables, and 9,561 trucks against 7,545. The second-hand trade nobody counts: the usual guess is 750,000 to a million cars a year.
Changan's and Omoda-Jaecoo's figures are the companies' own announcements. The price-per-car ranges for BYD and Kia are our assumptions. None of the brand figures in this section is a count.