Key Market Indicators
Pakistani vehicle registration is projected to rise substantially, reaching approximately 957,000 units by 2028. This marks an increase from around 606,000 units in 2023, with an average annual growth rate of 7.2%. Since 2010, the Pakistani market has seen a significant yearly increase of 18.9%. In 2023, Pakistan ranked 37th in vehicle registrations, with Malaysia slightly ahead at the same figure of 606,000 units. Other nations leading the rankings include Canada, China, and Austria, occupying the second, third, and fourth positions, respectively. Meanwhile, vehicle production in Pakistan is expected to grow to about 290,000 units by 2028, up from approximately 225,000 units in 2023. This growth represents an average annual increase of 4%. However, since 2004, the country's vehicle supply has seen a yearly decline of 3.5%. In terms of production rankings for 2023, Pakistan stood at 32nd place, with Uzbekistan surpassing it at the same production figure. The top positions were held by the United States, Japan, and Germany, ranked second, third, and fourth respectively.
