Latest news with #SazgarEngineeringWorks
Business Recorder
28-07-2025
- Automotive
- Business Recorder
Sazgar to roll out Pakistan-assembled HAVAL H6 PHEV in August
In a step towards hybrid adoption, Sazgar Engineering Works (SAZEW) has officially begun pre-bookings for its first locally assembled plug-in hybrid electric vehicle (PHEV) — the HAVAL H6 Hi4 1.5L AT AWD Turbo — with the initial rollout of its CKD model expected in August 2025. The listed auto assembler disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. 'We are pleased to inform you that the company has commenced the pre-bookings of its PHEV from today under brand 'HAVAL H6 Hi4 1.5L AT AWD Turbo PHEV'. The first rollout of the CKD model of this vehicle is expected in August 2025,' read the notice. Sazgar plans NEV rollout by FY26, ups CapEx to Rs11.5bn A PHEV combines a gasoline engine with a larger battery pack than a standard hybrid, allowing it to run on electricity alone for a certain distance. Once the electric range is depleted, the vehicle functions like a regular hybrid, using both the engine and electric motor. Moreover, Sazgar has also decided to introduce an SUV 'TANK-500 Hi4-T 4X4 2.0L Turbo AT PHEV' and a pickup truck 'CANNON ALPHA Hi4-T 4X4 2.0L Turbo AT PHEV'. 'The first rollout of the CKD models of these vehicles is expected before the end of March 31, 2026,' the company announced. Plug-in hybrids offer a more practical option in Pakistan as the country faces a lack of charging stations for all-electric vehicles. The government slashed power tariffs for chargers by 45% in January to encourage EV uptake and private charging stations. 'This is a good development for competition,' Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, told Business Recorder. Days ago, Chinese electric vehicle giant BYD, the world's top EV maker, announced plans to roll out its first car assembled in Pakistan by July or August 2026 to capture growing demand for electric and plug-in hybrid vehicles in the region. BYD's plant in Pakistan addresses rising demand from emerging markets and allows the company to take advantage of incentives offered by the government.
Business Recorder
04-07-2025
- Automotive
- Business Recorder
Haval maker: Sazgar says not increasing vehicle prices despite new tax
Sazgar Engineering Works (SAZEW) - company engaged in manufacturing and sale of automobiles, automotive parts and household electric appliances - said on Friday it had decided not to increase its vehicle prices for end-consumers despite imposition of a new tax in the Budget 2025-26. In a letter sent to Haval dealers in Pakistan on Friday, the company said it was absorbing the impact of the 'additional levy to ensure that the final payment of our vehicles remains unchanged'. 'Following the recent announcement of the Federal Budget 2025, a new government levy under New Energy Vehicles Adoption Levy Act, 2025 has been imposed on all our vehicles. As a responsible and customer-focused organisation, Sazgar has consistently taken proactive measures to protect the interests of its valued customers. Sazgar records 'second-highest' 4-wheeler sales in June 2025 'True to this commitment, we are pleased to inform you [dealers] that the company has decided to absorb the impact of this additional levy to ensure that the final payment of our vehicles remains unchanged including all taxes and duties,' the letter read. To recall, some of the industry players have increased their vehicles prices to pass on the impact of the levy on cost of production this week, including Lucky Motors (the assembler of Kia cars), Pak Suzuki Motor and Atlas Honda - the bike manufacturer in the country. The car sales in Pakistan surged 39% in the first 11 months of FY25, standing at 126,226 units in the under review period compared to the same period of the prior fiscal year; FY24.
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%.
Express Tribune
21-04-2025
- Business
- Express Tribune
PSX rises over 1,050 points on robust results
The Pakistan Stock Exchange (PSX) on Monday closed bullish as the benchmark KSE-100 index surged over 1,050 points amid speculation ahead of major corporate earnings announcements in the ongoing week. Growing expectations about the resolution of circular debt crisis and China debt rollover were the key developments, which took the index to the day's high. Robust quarterly results, unveiled by key players such as Meezan Bank and Sazgar Engineering, further energised the market. Ahsan Mehanti of Arif Habib Corp commented that stocks closed bullish, led by across-the-board activity, amid speculation ahead of major earnings announcements in the current week. The government's deliberations on solving the circular debt crisis and China debt rollover supported the index's close near session highs. Mehanti added that the expected receipt of IMF's tranche under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) next month, alongside potential monetary easing amid thin inflation, played the role of catalysts in bullish close at the PSX. At the end of trading, the benchmark KSE-100 index recorded an increase of 1,067.79 points, or 0.91%, and settled at 118,383.38. In its review, Topline Securities noted that bulls asserted their dominance in Monday's trading session, where the benchmark index surged to the intra-day high of 1,511 points. It closed at 118,383, marking a strong gain of 1,068 points, or 0.91%. The rally was largely driven by better-than-expected corporate earnings, which bolstered investor sentiment and sparked widespread buying, it elaborated. Among the key highlights were the impressive results announced by Meezan Bank and Sazgar Engineering Works. Both companies beat expectations and emerged as the stars of the day, driving significant investor interest and uplifting the broader market tone. Topline added that heavyweight stocks played a crucial role in powering the index higher, with Meezan Bank, MCB Bank, UBL, Sui Northern Gas Pipelines and Hub Power contributing 827 points. In its report, Arif Habib Limited (AHL) commented that prices fully filled the "Tariff Gap" with the index reaching the day's high above 118,800. Some 58 shares rose while 38 fell, with Meezan Bank (+9.13%), MCB Bank (+4.41%) and UBL (+1.72%) contributing the most to the index gains. On the flip side, Mari Petroleum (-1.45%), Engro Fertilisers (-1.78%) and HBL (-1.74%) were the biggest drags, it said. Among corporate results, Meezan Bank announced 1QCY25 earnings per share (EPS) of Rs12.3, a decrease of 11% year-on-year, and dividend of Rs7 per share. The earnings contracted due to a dip in net interest income and higher operational expenditures. Additionally, AHL said, Sazgar Engineering Works (+2.73%) announced 9MFY25 EPS of Rs212.66, an increase of 189% year-on-year. The company declared a cash dividend of Rs12 per share for 3QFY25, taking the payout to Rs32 per share for 9MFY25. JS Global analyst Muhammad Hasan Ather remarked that bulls dominated the trading floor as investors capitalised on attractive valuations. The majority of buying was seen in banking stocks, where Meezan Bank, MCB Bank and UBL alone contributed 648 points. "Looking ahead, we expect some corporate results-based rally while budget-related updates and the upcoming monetary policy will also drive market sentiment. Therefore, investors are advised to adopt a buy-on-dips stance, with a focus on oil and gas, automobile and cement sectors," Ather added. Overall trading volumes increased to 672.4 million shares compared with Friday's tally of 425.1 million. The value of shares traded during the day was Rs36.4 billion. Shares of 451 companies were traded. Of these, 252 stocks closed higher, 158 fell and 41 remained unchanged. Cnergyico PK was the volume leader with trading in 103 million shares, gaining Rs0.01 to close at Rs8.55. It was followed by Power Cement with 62.6 million shares, gaining Rs1.23 to close at Rs13.54 and The Bank of Punjab with 42.6 million shares, gaining Rs0.25 to close at Rs11.42. Foreign investors sold shares worth Rs313.8 million, the National Clearing Company said.
