Member vehicle sales reported by the Pakistan Automotive Manufacturers Association rose in the first half of 2026, and cheaper auto finance was part of the backdrop. The exact size of the rise depends on which lines from the June sheet you add. Headlines that say about 123,000 units and about 35 percent are describing one total. A second total on the same sheet is smaller.
The count below is the addition of the monthly sales columns for January to June 2026 on the association sheet published for June, set against the same six months of 2025. It is not a guess at brands that do not report to the association.
What the June sheet actually adds up to
Passenger car sales in those six months were 89,721 units, against 65,701 a year earlier. Jeeps and pickups were 28,402, against 21,883. Together, cars and light commercials were 118,123, against 87,584. That narrower total is about 34.9 percent higher than the same months of 2025.
Trucks added 4,368 sales, against 2,950 a year earlier. Buses added 524, against 484. Cars, jeeps, pickups, trucks and buses together were 123,015 units, against 91,018. That broader total is about 35.2 percent higher. A market summary dated 2 October 2026 put the half at about 123,000 units and cited a 35.2 percent rise. The sheet supports that pair of figures once trucks and buses are included. It does not support using 35.2 percent for the 118,123 car and light commercial subtotal, which is closer to 34.9 percent.
June alone shows why a single month can mislead. Passenger cars were 15,378, down from 17,659 in June 2025. Jeeps and pickups were 7,363, up from 4,248. Combined, the month was 22,741, against 21,907 a year earlier, a rise of about 3.8 percent. The half year gain is not a story of one strong June in the car column.
Inside the car table, the Suzuki Alto was still the largest single line in June, at 7,239 units. The Alto card currently lists it from Rs 2.995 million ex factory. The Suzuki Fronx, new to the sheet, recorded 552 sales in May and 1,717 in June. The Fronx card lists it from Rs 6 million ex factory. Haval and Tank, reported together, were 2,720 in June. Their models sit on the Haval pages.
Why one summary stops earlier
Some notes quote 118,123 units and still attach a 35.2 percent rise. That unit count matches cars plus jeeps and pickups on this sheet. The percentage matches the broader 123,015 total more closely than it matches 118,123. Both numbers are real. They are answers to different questions. If a report does not say whether trucks and buses are inside the total, the two figures will look like a conflict when they are a definition problem.
Motorcycles, three wheelers and tractors are outside both totals. Two and three wheeler sales on the same sheet run far above car volumes, and folding them in would describe a different market. The 123,015 figure is the road vehicle total for reporting members, not the whole of Pakistani mobility.
Where auto finance fits
The State Bank policy rate was 10.5 percent at the 26 January 2026 decision. The monetary policy committee raised it by 100 basis points to 11.5 percent with effect from 28 April 2026. In early October 2026 the published policy rate was still 11.5 percent. A note that put rates in this half at about 10 percent is looser than those decisions.
Outstanding auto financing, as reported from central bank credit data, was Rs 345.34 billion at the end of March 2026. That was up from Rs 336.61 billion in February and from Rs 257.36 billion a year earlier. A later report of the same series put the stock at Rs 359.5 billion by the end of April, after the rate increase had taken effect. The loan book was still rising. Easier finance, compared with the much tighter rates of the previous cycle, lines up with the stronger half. It does not mean every extra vehicle was bought on a bank plan, and it does not give one markup to every buyer. Bank offers differ.
Running cost is a separate question from the sales total. The current petrol and diesel rates move on their own schedule, and the association sheet does not show that cheaper fuel produced the extra units.
What the sheet leaves out
The June tables do not include every brand sold in Pakistan. Kia, Changan, MG and BYD do not appear in the passenger car section. Their volumes are outside 118,123 and outside 123,015. The new car directory is wider than the association sheet for that reason. A national market total that added those brands would be higher, and this article does not invent that missing number.
The sales recovery also sits next to an unfinished industrial policy. PAMA has asked the industries ministry to share the Auto Policy draft before finalisation, as covered in the note on that request. A good half does not turn the draft into a new tax or a new financing ceiling. If you are choosing between two cars in this market, compare them on the price and tax that the quotation actually uses.