Sazgar's auto rickshaw sales triple in June 2024

MG News | July 10, 2024 at 12:51 PM GMT+05:00

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July 10, 2024 (MLN): Sazgar Engineering Works Limited (PSX: SAZEW) witnessed a substantial rise of 207.09% YoY in the sale of its auto rickshaws in June 2024, with 1,818 units sold compared to the topline of 592 three-wheelers in the same month last year, company’s filing on PSX revealed today.

Concerning production, the company made 1,323 units of Auto Rickshaw in June, compared to 570 units produced during June 2023, reflecting a massive rise of 132.11% YoY.

The monthly metrics comparison indicates a 7.34% MoM decrease in autorickshaw sales compared to 1,962 units sold in May 2024.

Similarly, production also dropped by 32.05% in June 2024 as in the previous month SAZEW was able to manufacture 1,947 units.

In addition to the three-wheelers, the company sold 871 four-wheel off-road and passenger vehicles, 282.02% YoY higher than the topline of 228 units recorded in the same period last year.

The production of the four-wheel vehicles clocked in at 827 units, up by 237.55% YoY against the 245 units produced in June 2023.

Comparison on a monthly basis shows that the sale of four-wheelers increased by 11.67% MoM, while production was recorded at 2.35% 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.

As per a report by Topline Securities, SAZEW is poised for more substantial growth with its share price expected to reach Rs1,613 by the end of June 2025.

SAZEW has demonstrated exceptional performance in terms of securing gross margins, surpassing its industry peers by a significant margin.

As per the management of SAZEW, their customers are less sensitive to changes in price range since they operate solely in SUVs.

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