External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

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 17,174 units in Sep 2025, reflecting a 67% YoY and 22% 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>This took 1QFY26 sales to 42,267 units a 53% YoY rise from 27,585 units in 1QFY25.</li></ul>

Pakistan Car sales in Pakistan (as reported by PAMA) clocked in at 17,174 units in Sep 2025, reflecting a 67% YoY and 22% 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.This took 1QFY26 sales to 42,267 units a 53% YoY rise from 27,585 units in 1QFY25.

Sazgar Engineering Works Limited (SAZEW PK)

Pakistan Automobiles: Car Sales In Sep 2025 Up 67% YoY And 22% MoM To 17,174 Units