Sazgar’s car production soars by over 614 per cent YoY

WEB DESK: Sazgar Engineering Works Limited reported a remarkable year-on-year increase of 511.11 per cent in the sale of four-wheel off-road and passenger vehicles for July 2024.

The company sold 825 units during the month, a significant rise from the 135 vehicles sold in July 2023, according to their latest filing on the Pakistan Stock Exchange (PSX).

In terms of production, Sazgar manufactured 886 cars in July 2024, marking an impressive surge of 614.52 per cent compared to the 124 units produced in the same month last year. However, compared to June 2024, there was a 5.28 per cent decrease in monthly sales, down from 871 units.

On the production front, there was a 7.13 per cent increase from the 827 units produced in June. Additionally, the company reported selling 1,624 auto rickshaws in July, reflecting a 113.4 per cent increase year-on-year from 761 units in July 2023.

Production of these three-wheelers also saw a significant rise of 83.73 per cent year-on-year, with 1,795 units manufactured compared to 977 units in July 2023.

Month-on-month figures reveal a 10.67 per cent drop in the sale of three-wheelers, although production increased by 35.68 per cent from the previous month.

Sazgar is a leading manufacturer of CNG 4-Stroke Auto Rickshaws and automotive wheel rims. With its manufacturing base in Pakistan and a global dealer network, Sazgar is a key player in the local market and is expanding its reach internationally.

Recent developments have positively impacted Sazgar’s stock performance, highlighting the company’s growing influence and success in the automotive sector.

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