External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Automobiles and components / Thematic (Sector/Industry)

<ul><li>Pakistan Car sales in Pakistan (as reported by PAMA) clocked in at 11,034 units in Jul 2025, reflecting a 28% YoY rise while a 49% MoM fall.</li><li>The MoM decline was primarily due to high base effect in Jun 2025, driven by pre-buying ahead of anticipated budgetary changes and accelerated purchases by buyers.</li><li>The YoY growth is due to a more stable macroeconomic environment with lower interest rates and easing inflation which has improved consumer sentiment.</li></ul>

Pakistan Car sales in Pakistan (as reported by PAMA) clocked in at 11,034 units in Jul 2025, reflecting a 28% YoY rise while a 49% MoM fall.The MoM decline was primarily due to high base effect in Jun 2025, driven by pre-buying ahead of anticipated budgetary changes and accelerated purchases by buyers.The YoY growth is due to a more stable macroeconomic environment with lower interest rates and easing inflation which has improved consumer sentiment.

Sazgar Engineering Works Limited (SAZEW PK)

Pakistan Automobiles: Car Sales in Jul-25 Up 28% YoY While Down 49% MoM