Key Market Indicators
**Pakistani Car Registration to Hit Nearly 700,000 Units by 2028** Pakistani car registration is projected to reach approximately 698,000 units by 2028, up from around 525,000 units in 2023. This signifies a compound annual growth rate (CAGR) of 4.5% year-on-year. Since 2010, the demand for cars in Pakistan has surged by 19.3% annually. As of 2023, Pakistan ranked 29th in global car registrations, with Spain slightly ahead at the same figure of 525,000 units. The leading countries in this category were Indonesia, Austria, and Belgium. **Pakistani Car Production to Approach 250,000 Units by 2028** Meanwhile, car production in Pakistan is expected to reach about 241,000 units by 2028, up from nearly 190,000 units in 2023. This represents an average annual growth rate of 3.8%. However, since 2004, Pakistani car supply has decreased by 3.3% each year. In 2023, Pakistan ranked 31st in car production, with Taiwan just ahead at the same figure of 190,000 units. Japan, Germany, and India occupied the top three spots in this ranking.
