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 17,333 units in Oct 2025, reflecting a 32% YoY and 1% MoM rise.</li><li>YoY growth is supported by a more stable macroeconomic environment, introduction of more variants, lower interest rates, easing inflation, and improving consumer sentiment.</li><li>MoM sales remained stable, primarily due to an 18% decline in Pakistan Suzuki Motor Company (PSMC) volumes, as the company undergoes a major reset in 2025.</li></ul>

Pakistan Car sales in Pakistan (as reported by PAMA) clocked in at 17,333 units in Oct 2025, reflecting a 32% YoY and 1% MoM rise.YoY growth is supported by a more stable macroeconomic environment, introduction of more variants, lower interest rates, easing inflation, and improving consumer sentiment.MoM sales remained stable, primarily due to an 18% decline in Pakistan Suzuki Motor Company (PSMC) volumes, as the company undergoes a major reset in 2025.

Sazgar Engineering Works Limited (SAZEW PK)

Pakistan Automobiles: Car Sales in Oct 2025 Up 32% YoY and 1% MoM to 17,333 Units