Automark

Meezan Bank, Pakistan’s leading Islamic bank and the Best Bank in Pakistan has recently signed a Memorandum of Understanding with Master Motors Limited (MML) and Master Motor Company Limited (MMCL).

Both the companies are subsidiaries of Master Group, the makers of Master Molty Foam. MML has recently signed a Joint Venture agreement with No 1. Chinese passenger car brand “CHANGAN”. MMCL is the manufacturer of global leading Commercial Vehicles (Trucks and Buses) of renowned Brand like FOTON, YUTONG, FUSO, IVECO from China, Italy & Japan.

Under this MoU, both parties agreed on a joint campaign to promote the “Changan Karvaan” Passenger minivan under “Car Ijara”. The “Karvaan” is a modern and spacious multi-functional minivan for the middle-income group having Pakistan’s most powerful 1.0L engine, spacious 7 seats and powerful Dual AC. The Bank, in turn, will get the opportunity to couple this provision with an attractive financing package including range of additional services and benefits like early vehicles delivery as well as free initial services for its customers.”

Master Motors Limited holds a category-A Greenfield status under Auto Policy 2016-2021. Its manufacturing plant is near completion in Karachi with a production capacity of 30,000 units/year. Changan has chosen Pakistan as their only export base for the right hand drive (RHD) countries.

The signing ceremony took place at Meezan House, Meezan Bank’s Head Office, Karachi. Mr. Irfan Siddiqui – President & CEO, Mr. Arshad Majeed – Group Head Consumer Finance of Meezan Bank Ltd. Mr. Nadeem Malik – Chairman and Mr. Danial Malik – CEO Master Motors Limited attended the ceremony with their respective teams. MOU has been signed by Mr. Irfan Siddiqui and Mr. Nadeem Malik.
Mr. Irfan Siddiqui, President and CEO of Meezan Bank Ltd, further added “The automotive industry will be boosted with the new automotive competitor in Pakistan. Meezan Bank provides our customers quality financial services platform”.

Source: Changan fb page

On 23 Feb, Hyundai-Nishat Motor (Private) Limited officially inaugurates Digital City Store at Emporium Mall, Lahore to offer car enthusiasts a matchless experience through realistic 3D screens and huge floor-to-ceiling video walls.

This is the first time that any automotive brand in Pakistan has introduced the idea of a digital store. The digital store is an innovative automotive retail concept that will feature a 3D technology to grab the attention of users and to enhance customer buying experience. Prospective customers will be able to go through an easy to use dashboard which will enable them to see a 3D model of the Hyundai cars. The dashboard will also show real-time information such as the functions, features, specifications and much more of Hyundai cars.

The inauguration of the digital store also Unveils Hyundai’s most popular cars to Pakistan; the Santa Fe and the Grand Starex;

• Hyundai Santa Fe is a 7-seater sporty vehicle, and it is among Hyundai’s most popular and trendy SUVs. It is available in seven different models across the world.

• The 12-seater, Grand Starex; a premium transporter that is designed to provide superior comfort and convenience to the users. It has lots of space to accommodate a big family along with the luggage on longer journeys. Hyundai also announced its plan to launch Grand Starex van 2.4l in Pakistan starting from 3.99M to 5.2M only.

Talking at the opening, Chief Operating Officer of Hyundai, Mr. Tatsuya Sato stated, “I welcome all of you to the launch of our Hyundai City Store, which is our first achievement in Pakistan. This is an initial step of our incredible voyage to furnish our clients with a top-notch involvement. This specifically computerized showroom is a one of a kind idea store hoping to offer clients a well-disposed condition wherein they can investigate Modern Premium Hyundai Vehicles. Our vision is to end up the most “esteemed” and “cherished” car brand and reproduce the worldwide accomplishment of Hyundai in Pakistan.”

Automotive enthusiasts and the public have warmly welcomed the launching of the digital store in Pakistan as they are ready to experience an exciting journey ahead.

The partnership of Hyundai and Nishat is a positive development for the Pakistani auto industry as it will break the monopoly of three Japanese automakers including Indus Motors, Pak Suzuki Motors, and Honda Atlas which has dominated the local auto industry since past three decades.

In the future, Hyundai also plans to bring more famous models in Pakistan. Their target is to set new records of service and technology in automobiles industry.

by Aqsa Mirza / Hanif Memon

Just two months after the debut of the Geely Boyue-based Proton X70, it appears that Proton is busy testing another upcoming model.

This time around, our friends over at Automachi published photos of the Geely Binyue somewhere in Melaka.

As evidenced by its prominent rear wing and quad muffler tips, seen here is the Sport variant of the Geely Binyue.

To recap, the Geely Binyue rides on the company’s new BMA platform, with two engine choices available. The first is a 1.5-litre turbocharged three-cylinder petrol that does 177 hp and 255 Nm, hooked up to a 7-speed dual-clutch transmission. The other engine is a 1.0-litre turbocharged three-cylinder that outputs 134 hp and 205 Nm, mated to a 6-speed manual transmission.

Geely also mentioned that the Binyue was tested extensively across Asia, Africa, Europe, and North America, clocking over 12 million km for the engine and more than 6 million km for the dual-clutch transmission, ensuring the powertrain’s reliability across the globe.

In China, the Geely Binyue is priced from an affordable CNY 78,800 for the base 1.0-litre turbocharged model, while the more powerful 1.5-litre turbocharged model is priced from CNY 88,800. Just for comparison, the Geely Boyue (Proton X70) is priced from CNY 129,800 for the base model.

Considering the quantum in price gap between the Binyue and Boyue in China, Malaysian consumers can expect the upcoming Binyue-based Proton model to have a ballpark price very close to that of the Perodua Aruz (Priced from RM 72,000).
When the model is launched later this year, it will be challenging the likes of other subcompact SUVs, such as the Honda HR-V, Mazda CX-3, and Toyota C-HR.

Over 70 Chinese companies will participate and exhibit their products in the three-day Pakistan Auto Show scheduled to be held at Karachi Expo Center from April 12 to 15.

“More than 70 companies manufacturing motorcycles and its different parts and automobiles will showcase their products in the show to be organized by Pakistan Association of Automotive Parts and Accessories,” a senior official at Embassy of Pakistan informed here.

He said the government would provide all possible facilities to these companies during the auto show.

China Auto Modification Accessories Association Vice President Zhang Yazhu who purchased 85 booths for Chinese companies to display their products at the exhibition said more companies were willing to participate in the auto show.

She informed that some big companies particularly Congqing Zongshen Group, Chongqing Shun Hong Import and Export, Fujian Dongya Machinery and Shandong Province Liangshan Shenli Auto would also be participating.

These companies were manufacturing motorcycles, motorcycle engine and body parts and piston rings for motorcycle, automobile, and generators, she added.

Zhang, who had been regularly facilitating Chinese exhibitors to participate in the Pakistan Auto Show since 2016, said, the number of Chinese exhibitors kept growing tremendously during the last three years.

“We bought three booths in the auto show held in 2016, 68 booths in 2017 and 81 booths in 2018,” she added.

Pakistan Auto Show is the pioneering trade exhibition for the rapidly developing automotive aftermarket in Pakistan.

The largest exhibition of automobiles in the country will feature a display of the full range of motor vehicles parts as well as components for the drive, chassis, body, electrics and electronic groups, as well as equipment for vehicle service and repair, bodywork repair and painting, tyres and batteries.

The last year’s auto show held in Lahore attracted more than 200 companies, comprising 125 domestic enterprises and 78 international exhibitors.

The international exhibitors included renowned companies from Japan, China, Germany, France, Turkey, Thailand, Taiwan, England USA, UAE, and Sri Lanka.
The event also featured more than 275 international buyers.

There has been a lot of speculations in the auto markets that Pak Suzuki will launch the 4th generation Suzuki Swift in 2019 with a price tag of 16 Lacs PKR. The expected launch date is in June 2019, but Pak Suzuki has denied the news saying that nothing can be confirmed at this stage.

While talking to Automark, sources confirmed that Pak Suzuki have imported some mild hybrid Swift but have not decided to launch it yet.

However, market sources are anticipating that Pak Suzuki is launching Suzuki Swift that will come equipped with multiple engine configuration including a 3 cylinder 1.0 Liter booster-jet engine, KB12 1.2L petrol, SVS Hybrid and couple of diesel engines including a 1.3L and 1.5L. According to the rumors, the new Suzuki Swift is equipped with many types of driving convenience, high safety, sufficient legroom and sufficient boot space for a hatchback. The main competitors of Suzuki Swift 2019 will be Toyota Vitz, Suzuki Ignis, Honda Fit, and Toyota Aqua.

It remains to be seen whether the company will make a public statement regarding these rumours or not.

For more updates, keep tuned to Automark

by Aqsa Mirza

SHANGHAI, Feb 13 (Reuters) – China’s Chongqing Changan Automotive said on Wednesday it would offer discounts to buyers in rural areas, the first big Chinese automaker to do so after Beijing promised to roll out supportive polices for the world’s largest auto market.
The Chongqing-based carmaker said in a statement to Reuters that it would offer customers up to 22,000 yuan ($3,255.50) in purchasing subsidies on their Oshan series multiple-purpose-vehicles (MPVs) in large rural areas without specifying where.
The company said it was footing the bill for the subsidies and had not been incentivised by the government.
However, expectations of future earnings potential pushed Changan shares up nearly 10 percent to their highest level since July, in afternoon trade, after local media reported the news.
China is trying to convince consumers to loosen their purse-strings as the slowing economy prompts concerns among policymakers about jobs. State media reported earlier this month that Beijing households have been given subsidies to buy electrical appliances.
China’s state planner said last month it would provide “appropriate” subsidies to boost rural sales of some vehicles and purchases of new-energy vehicles, without giving details.
China’s car sales hit reverse for the first time since 1990s in 2018, down by 2.8 percent from a year earlier, while industry bodies and analysts said smaller cities that were leading China’s auto sales growth in the past few years, were most hit.
China Changan Automobile Group, the parent group of Changan which has joint ventures with global carmakers including Ford Motor Co, Peugeot SA and Mazda Motor Corp, sold 2.14 million cars last year, down by around 25 percent from 2017.