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 (as reported by PAMA) clocked in at 15,531 units in Mar 2026, up by 40% YoY but down 9% MoM. This took 9MFY26 cumulative sales to 144,029 units, up 43% YoY.</li><li>This decline was largely driven by a 23% MoM drop in Pak Suzuki Motor Company (PSMC) sales, while ex-PSMC car sales posted a 4% MoM increase.</li><li>Meanwhile, the strong YoY growth was supported by new market entrants, lower interest rates, easing inflation, and improving macroeconomic sentiment.</li></ul>

Pakistan car sales (as reported by PAMA) clocked in at 15,531 units in Mar 2026, up by 40% YoY but down 9% MoM. This took 9MFY26 cumulative sales to 144,029 units, up 43% YoY.This decline was largely driven by a 23% MoM drop in Pak Suzuki Motor Company (PSMC) sales, while ex-PSMC car sales posted a 4% MoM increase.Meanwhile, the strong YoY growth was supported by new market entrants, lower interest rates, easing inflation, and improving macroeconomic sentiment.

Sazgar Engineering Works Limited (SAZEW PK)

パキスタンの自動車市場：2026年3月の自動車販売台数は前年同月比40％増、前月比9％減の15,531台となった。