Latest news with #Rs11.5bn
Business Recorder
04-07-2025
- Automotive
- Business Recorder
Sazgar records ‘second-highest' 4-wheeler sales in June 2025
The Sazgar Engineering Works (SAZEW) reported on Friday that it had sold 1,349 units of its 4-wheelers in June 2025, a number that a local research house said was the company's second highest in a month. The company anticipated in March 2025 that the demand for automobiles would boost in the wake of economic stabilisation and reduced interest rates in Pakistan. SAZEW rolled out its first four-wheeler in August 2022 in Pakistan under a joint venture with Great Wall Motor (GWM) of China. Sazgar Engineering profit jumps 105% to Rs6.23bn in 3QFY25 According to a notification SAZEW sent to the Pakistan Stock Exchange (PSX), its sales in the month of June were notably higher compared to production of the vehicles reported at 985 units in the month under review. In a brief commentary, Topline Research said, 'SAZEW records second highest 4-wheeler sales in June 2025'. The sales hit 1,349 units in June 2025, surging by 47% compared to the previous month of May. The sales jumped 2.55-time in June compared to the same month of the last year. With this, the company's sales doubled in a year, rising to 10,844 units in FY25 compared to FY24, according to the research house. The company sold 2,435 units of 3-wheelers in June 2025 that remained significantly high compared to the production of 1,420 units of the vehicle in the month, according to the notification. According to the third quarterly financial statement of the company of March 2025, it sold a total of 8,313 units of 4-wheelers in the first nine-month (Jul-Mar) of FY25 that were 159% higher compared to 3,205 units sold in the same period of FY24. 'Auto sector is gradually recovering and progressing towards higher sales volume in line with economic stabilisation. Lower interest rates are expected to boost the auto financing and demand of vehicles in the country,' financial statement read. Sazgar plans NEV rollout by FY26, ups CapEx to Rs11.5bn At present, SAZEW is marketing around six cars including a hybrid electric vehicle (HEV) Haval at present in Pakistan. It is expected to roll out NEV [New Energy Vehicles] into the Pakistani market in the latter part of FY26, as the automaker announced to raise the capital expenditure (CapEx) of its NEV facility by 155%. On Friday, Sazgar's share price hit an intra-day high at Rs1,248.85/share from opening at Rs1,172/share. It, however, closed at Rs1,192.32 on the close of the trading session, limiting day-to-day gains at Rs28.87 or 2.48%.
Business Recorder
23-05-2025
- Automotive
- Business Recorder
Sazgar plans NEV rollout by FY26, ups CapEx to Rs11.5bn
Sazgar Engineering Works (SAZEW) is expected to rollout NEV [new energy vehicles] into the Pakistani market in the latter part of FY26, as the automaker announced to raise the capital expenditure (CapEx) of its NEV facility by 155%. The update was provided in an analysts' briefing attended by brokerage houses on Friday. 'The company recently announced that it had revised the cost of its CapEx from the earlier Rs4.5bn to Rs11.5bn on its new NEV plant manufacturing/assembly facility and other cost efficiency projects which include: 1) expansion of existing paint shop, 2) construction of new warehousing facilities, and 3) installation of 5.7MW solar power plant,' said JS Global, who attended the corporate briefing, in its report on Friday. 'The first rollout of NEV vehicles, which will most likely include ORA vehicles, is expected in the latter part of FY26,' it added. Sazgar to launch ORA-07 EV in Pakistan ORA is a sub-brand of Chinese automotive giant Great Wall Motors (GWM), which specialises in EVs. GWM is a major player in the global automotive industry, with a portfolio that includes well-known brands such as Haval, Ora, and Tank, along with the innovative automotive technology firm Salon Mecha Technology Co., Ltd. Furthermore, Sazgar management reaffirmed their plans to launch GWM Tank 500 (Luxury SUV) and are also considering PHEV models, said JS Global. Moreover, the company's production capacity is expected to increase from roughly 40 units per day currently to around 90 after the expansion, it said. '[Sazgar's] management apprised that these new vehicles will not fall under the greenfield status,' read the report. JS Global was of the view that the automaker is prioritizing volumetric growth and the launch of its NEV line-up is expected to help preserve margins depending on the incentives given in the upcoming NEV policy.
