Sazgar reports 3.76x YoY surge in auto rickshaw sales for May 2024

June 10, 2024 (MLN): Sazgar Engineering Works Limited (PSX: SAZEW) witnessed a substantial rise of 275.86% YoY in the sale of its auto rickshaws in May 2024, with 1,962 units sold compared to the topline of 522 three-wheelers in the same month last year, company’s filing on PSX revealed today.

Concerning production, the company made 1,947 units of Auto Rickshaw in May, compared to 637 units produced during May 2023, reflecting a massive rise of 205.65% YoY.

The monthly metrics comparison indicates a 61.88% MoM increase in autorickshaw sales compared to 1,212 units sold in April 2024.

Similarly, production increased by 70.79% in May 2024 as in the previous month SAZEW was able to manufacture 1,140 units.

In addition to the three-wheelers, the company sold 780 four-wheel off-road and passenger vehicles, 423.49% YoY higher than the topline of 149 units recorded in the same period last year.

The production of the four-wheel vehicles clocked in at 808 units, up by 457.24% YoY against the 145 units produced in May 2023.

Comparison on a monthly basis shows that the sale of four-wheelers increased by 41.56% MoM, while production was recorded at 40.77% MoM higher.

SAZEW is a premier CNG 4 Stroke Auto Rickshaw (3 Wheelers) and Automotive Wheel Rims manufacturer.

With manufacturing facilities based in Pakistan and a Global Dealer Network, Sazgar is leading the Pakistani market and exporting to international markets.

It is worth highlighting that SAZEW's scrip in recent times has benefitted significantly due to certain developments that the company underwent.

At the time of writing, the share price has risen by Rs7.88, or 0.98%, for the day, reaching Rs810.99.

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