By Ijaz Kakakhel

Pakistan’s automobile sector showed mixed performance in March 2026, with most segments declining from January highs but largely stabilising compared to February, according to data from the State Bank of Pakistan.

Latest figures show that total sales of vehicles, excluding two- and three-wheelers, stood at 19,105 units in March 2026, slightly lower than the 19,635 units recorded in February and well below the January peak of 26,661 units. On a monthly basis, the data points to a modest contraction, although volumes remained broadly stable compared to the preceding month.

Passenger car sales, which account for the largest share of the segment, declined to 11,755 units in March from 13,388 units in February 2026. This continues the slowdown following the strong rebound in January, when car sales had surged to 18,602 units.

Similarly, truck sales dropped to 488 units in March 2026 from 582 units in February, and were significantly lower than the 1,002 units recorded in January. Bus sales also followed a declining trend, reaching 78 units in March compared to 82 units in February and 99 units in January.

In contrast, the jeeps and pickups category showed relative resilience, with sales increasing marginally to 3,776 units in March 2026 from 3,733 units in February, though still below January’s 4,453 units.

Tractor sales posted a notable recovery, rising to 3,008 units in March compared to 1,850 units in February. Despite this rebound, volumes remained below the levels recorded in November and December, at 3,663 and 3,399 units, respectively.

Meanwhile, total sales of two- and three-wheelers stood at 166,633 units in March 2026, up from 159,512 units in February and moving closer to the January level of 181,790 units. This segment continues to dominate overall volumes in the auto sector.

On the production side, total output of vehicles, excluding two- and three-wheelers, was recorded at 17,758 units in March 2026, slightly lower than the 18,625 units in February and significantly below January’s 25,676 units.

Car production declined to 10,843 units in March from 11,880 units in February, mirroring the trend observed in sales. Truck production decreased to 531 units from 574 units, while bus production fell to 65 units from 78 units over the same period.

However, production of jeeps and pickups increased to 3,521 units in March 2026 from 3,318 units in February, indicating some recovery in this segment. Tractor production also edged up marginally to 2,798 units from 2,775 units, maintaining relative stability compared to other categories.

In the two- and three-wheeler segment, production reached 166,593 units in March 2026, up from 157,543 units in February and broadly aligned with sales trends.

Overall, the data reflects a sector adjusting after a sharp uptick in January, with March figures indicating stabilisation across key segments, albeit at levels lower than earlier peaks.

Credit: INP-WealthPk