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Dewan Motors to Focus on Quality and Launch Multiple SUVs in Pakistan: CEO

Muhammed Hanif Memon
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Dewan Motors to Focus on Quality and Launch Multiple SUVs in Pakistan: CEO

Pakistan, a year back, introduced a lucrative auto policy that resulted in investment announcements from some of the biggest brands in the world, including giants like Renault, Volkswagen, and many others. The policy not only ensured incentives for newcomers but has also motivated Dewan Group to get back into the auto sector.
Muhammad Saleem Baig, CEO of Daehan Dewan Motor Company, in an exclusive interview with ProPakistani, shared the story of ups and downs of Dewan Group and how it plans to re-conquer Pakistani market with its experience, local network, and proven quality.

From the Old Times

For those who don’t know, Yousaf Dewan Group of Companies stepped into automobile industry back in 1998/1999 as a result of an agreement with Hyundai and Kia. In fact, YDC was the reason that Hyundai and Kia vehicles became a local success.
The company, later on, introduced the well-known Hyundai made Shehzore truck, which became an instant success.
Saleem Baig told me that company sold over 50,000 Shehzore trucks, a number that has still not been surpassed by any truck maker in the country.
At the time, Shehzore held a market share of 80% in one tonne pickup category 20% market share in 1 liter hatchback category. This accounted for an overall 10% market share in auto sector at that time.
However, in 2010, Hyundai decided to halt its operations in 18 countries throughout the world — including Pakistan — due to a shift in the company’s business dynamics. The move isolated Dewan Group and it went into incognito mode while it searched for its next partner.
Saleem Baig mentioned that apart from Kia and Hyundai, YDC also brought BMW to Pakistan and has already signed a distribution agreement with Scania, company based out of Sweden, for manufacturing buses and trucks in Pakistan.

Plan to Move Forward

After Hyundai left the Pakistani market, Dewan Motors was left with just a few leftover kits for Shehzore vehicles. This is when the company started to look around for sourcing the rest of the parts. The company had many proposals from several Chinese automakers which were considered for evaluation.
Saleem Baig said that they tested a few Chinese models of Shehzore but their performance was below par. Shehzore gave an engine performance that lasted 300,000 kilometers, however, the Chinese models only went as far as 50,000 km which wasn’t acceptable for Dewan Motors.
Dewan recognized itself as the provider of a quality product with good after-sale value and spare parts that were readily and cheaply available. The CEO added that Dewan Motors stuck to its vision of providing quality products so instead of going to Chinese manufacturers out of desperation, they waited for better options.
The quality and after sale service is very important for us. Giving the quality product in the market is very critical.
The company will also enter the passenger cars market in the near future by bringing SsangYong to Pakistan, keep reading to know more details on this.
Joint Venture Between Dewan and Daehan
It is apparent that Korea has established an identity as a provider of good machines, be it the electronics or mechanical systems. In fact, many consider Korean products to be of same quality as those of Japan. So, Dewan went to Korea to look for quality products.
They were directed to meet with the Kolao Group of KR Motors. The Kolao Group also owns the Daehan brand. The company has a 1-ton pickup, 2.5-ton pickup in the making and another double-cabin pickup in market circulation.
This is where the Dewans leaned that Kolao Group had already invested $10-$15 million on a new 7% bigger model of Shehzore like trucks.
SaleemBaig highlighted that Shehzore was built around the Korean power train technology including the all important rear axle, that looked even better than the original Shehzore that Dewan group sold over 10 years ago.
Dewan Motors was quick to pitch their plan. With Kolao group’s tech and Dewan’s network of dealers, market share, and a state-of-the-art assembly plant in Pakistan, both the companies had the perfect chance to form a joint-venture with 50-50 ownership to give birth to a new company called Daehan Dewan Motor Company.

Re-Birth of Shehzore

With the deal locked with Kolao group, the Dewan group invested several million dollars to revive its assembly plant in Pakistan; that enabled the company to start assembling Shehzore trucks in the country again.
The investment from Dewan includes progressive localization of the vehicle in Pakistan. The first Shehzore produced had a localization of around 20%.
Dewan also holds the vision to localize the manufacturing to create more employment opportunities in the process.

Local Assembly Plan

Dewan Motors has an established plant in Sindh with over 500 employees.
The company’s CEO told us that it is a technologically advanced plant with four robots that paint the vehicles. He added that these robots were brought from Germany in 2000 and even after 18 years there is no other company in Pakistan that has robots at their plants.
Talking about the capacity, he added that a total of 20,000 units can be assembled per annum at the plant. The capacity will be increased once SsangYong vehicles are introduced and localized in Pakistan.
He further added that Daehan Dewan is looking to sell 5,000-6,000 units of Shehzore in the first year

Resale and Spare Parts

Muhammad SaleemBaig said that Shehzore’s success in the market was mainly due to its exceptional quality and resale value, and that is exactly what they are going to focus this time around as well.
Dewan Motors said that it considers following two things to be of utmost importance;
• Aftersale value
• Availablity of parts at a decent price
Shehzore had 18 3S dealers, which is one of the biggest networks in Pakistan. Dewan took them into confidence before relaunching the Shehzore and most of them are in good faith with the company.
CEO told that the lack of dealers and parts is why the Chinese are yet to make a mark in the market.
On the other hand, Dewan already has 12 dealers in place with many of them with the 3S status. Currently, there are no 3S dealership centers in Karachi,however the company has established a state of the art product support centre.
Apart from that, the company will invest more capital in the development of 3S dealers so the below-mentioned SUV launch can be successful as well.

Passenger Cars

Hyundai and Dewan, as mentioned earlier, once held an overall market share of 10%, however, since then the market and consumer demands have changed. Without a doubt, Dewan would’ve to bring in more options other than commercial vehicles to gain even half of the share they once held.
The company told that early next year they will bring SsangYong to Pakistan. The aim of the launch will be to provide quality vehicles at a competitive price – High Value Proposition.
Dewan insisted that they would never compromise on the quality as it is the company’s unique selling point.
Talking about the possible passenger cars, the company told that they will tap into the SUV market. SUV sector is booming in many countries in the world including India and the US. In fact, in America, the SUV sales outnumbered the Sedan sales for the first time ever recently. Pakistani market is somewhat new to SUV so Dewan will try and explore that sector. The possible vehicles that Dewan could launch by bringing SsangYong to Pakistan in near-future are;
• Tivoli (B-segment SUV).
• Korando (C-segment SUV), and,
• Rexton (E-segment SUV).
All three of these vehicles will be launched under Dewan’s brownfield status. They will be available at a competitive price and in the best quality with international safety standards. The company’s head told;

Prices

ProPakistani inquired about the price range of these vehicles as well. The company responded that the B-segment SUVs will be priced in the B passenger car segment. The C-segment SUV will be launched in C passenger car segment price range, which will be around what the top end Honda Civic and Toyota Corolla cost.
So, Pakistanis will be getting an SUV at the price of a Sedan. The E-segment SUV, if launched, will compete directly with Toyota Fortuner.
The company also gave a rough estimate of how much the Tivoli model will cost. They added that the Tivoli SUV will be priced around Rs 2 million – which seems pretty reasonable considering all the features that the company is promising.
The demand is already there, currently, the companies sell around 300,000 units annually. The number will go as high as 500,000 by 2021 as country’s young population is increasing.
The company recognizes the low-priced market sector, however, has no plans of launching any models under Rs 1 million,but may venture into electric/hybrid vehicles in the near future.

The Auto Policy

Dewan Motors was full of praise for the auto policy 2016-21 that the government recently introduced. The CEO mentioned that the attractive points of the policy are the reasons why Dewan has re-entered the market. Dewan was given the brownfield status of investment as well under the same policy. He added;
The policy has generated competition, this is good, the market is growing. The size of the cake is growing, everybody will be a winner, nobody will die.

Chinese will have their own share, the Korean players are coming, they will have their own shares. We will have our own share, I believe no threat to the Japs, they already have expansion plans, they are coming up with new products.

So, ultimately more choice, cake size growing will create employment in Pakistan. Its a win-win situation.
The CEO also made a few recommendations regarding the policy. He added that the government should maintain and continue the policy so foreign companies continue to invest in Pakistan.
On a question about taxes, the CEO added that any changes in the policy would hamper the investment. The companies have already aligned their system with the existing tax regime, and any changes would mean the change in company’s plans which might, then, hesitate in investing.
On a final message to the customers and the general public, Dewan Motors ensured that their vehicles are of the best possible quality. The company waited 7 years to get the best manufacturer when they could’ve easily gone for Chinese manufactures and compromised the quality.
Saleem Baig concluded by saying:
We have launched the best possible product – a very high-quality product and we will be launching other products.

We believe Korean products and Korean technology have advantages and we will be offering this to our customers.

Courtesy: PRO PAKISTAN

Dewan Motors to Focus on Quality and Launch Multiple SUVs in Pakistan: CEO

 

Ghandara Nissan Starts Payments in Chinese Yuan to Import Trucks in Pakistan

Muhammed Hanif Memon
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Automaker Ghandhara Nissan Limited (GNL) imported three million yuan of trucks from China by settling the trade transaction in renminbi in its maiden deal with a Chinese bank based in Pakistan.

As per the company’s official statement, the automaker carried out a Rs 53 million (equivalent to 3 million Chinese yuan) letter of credit (LC). The transaction was done with Bank of China Limited Pakistan (ICBC).

“We had a CNY (Chinese Yuan) LC established through ICBC during March 2018 amounting to CNY3 million (approximating to Rs 53 million),” Ghandhara Nissan’s official said.

He also added that “This is not the first trade transaction in CNY as far as our business is concerned; however, it is the first ever CNY LC transaction executed between ICBC and GNL.”

Ghandhara Nissan has had trade deals with Chinese original equipment manufacturers (OEMs) in yuan in the last few years with LCs established through multiple local banks. The Chinese manufacturers include Dongfeng Commercial Vehicle Co. Limited, China and JAC Motors, China.

GHNL’s official said that since trade in Chinese currency is in a developing phase and the volume is not substantial as compared to trade in dollars, cost of retiring import documents is slightly high if the letter of credit is established through any local bank.

He also added that “This can be reduced by having LCs established through Chinese banks like ICBC. Furthermore, as of now, most of the banks are not offering forward covers to hedge forex exposure in case of CNY LCs, which usually are available for LCs in USD (dollar).”

Advisor to the ICBC told a local English Newspaper that a trade transaction in Chinese currency is very good for Pakistan and “as a first step in encouraging the use of local currency between the two countries’ increasing trade going forward”.

Chinese banks are very eager to promote the international use of yuan in different regions of the world, especially across the route of its Belt and Road initiative.

The State Bank of Pakistan is encouraging Chinese lenders to establish a local yuan settlement and clearing mechanism in Pakistan.

China is Pakistan’s largest trading partner with a bilateral trade volume of $14 billion.

The neighboring country pledged more than $55 billion in investment for infrastructure development under China-Pakistan Economic Corridor project

The All-new PRINCE Glory 580 SUV Launched by Regal Automobile in Pakistan

Muhammed Hanif Memon
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The All-new PRINCE Glory 580 SUV Launched by Regal Automobile in Pakistan

Starting a new era of high-performance SUVs in Pakistan, the Regal Automobile Industries has launched its PRINCE Glory 580 SUV that boasts some stunning features and technologies. Much to the delight of SUV enthusiasts in Pakistan, the Glory 580 features exceptional performance features, state-of-the-art technologies and a stylish design. Glory 580 is a modern-day SUV that is all set to take on its competition in the closely contested SUV segment of the Pakistan car market.

Glory 580 has an aerodynamic and appealing appearance that instantly grabs the attention of the onlookers and makes it a sight to behold. It is also a perfect family vehicle, thanks to a large number of advanced safety features offered as standard in the Glory 580. It is a 7-seater stylish SUV that thrives on its turbocharged engine and CVT transmission for a flawless ride regardless of the driving conditions.

Exterior

Glory 580 is a stunner when it comes to design and aesthetics and exhibits a traditional yet commanding style statement. With an elegant stance made possible by an edgy and agile design, the Glory 580 is expected to be a big hit amongst the Pakistani car buyers for
its stunning good looks. The front fascia of the SUV featuresa stylish grill withbrand’s badge placed in the center.The front-grille is flanked by Lion-eye shaped LED headlights with Daytime running lamps that are beautifully sculpted to complete the aggressive appeal of the front end. With a wide wheelbase of 2780mm, the Glory 580 features 17-inch alloy rimsthat accentuate the aggressive appeal of the SUV. The craftsmanship and subtlety of the design flow through the whole body towards rear-end that features sharp Dual C-shaped tail-lamps.

Interior

Besides having a subtle yet aggressive exterior, the true highlight of Glory’s design is its interior. Delicately poised to welcome its occupants with contagious warmth, the interior of Glory 580 is an epitome of sheer design excellence, finesse and technological brilliance. The cabin boasts a luxury appeal with an intelligent instrument cluster, leather upholstery, Dual electronic AC, ample leg room and head room for occupants and an advanced 10-inch HD LED with cell-phone connectivity feature.
The interior of the vehicle has been built around the driver featuring engine push start button, a leather-wrapped multi-functional steering wheel and a smart information display behind the steering wheel. The Glory 580 has been designed to be ergonomic and spacious and can easily accommodate seven occupants while also offering enough space to carry language on holiday trips and weekend getaways with friends and family.

Performance

PRINCE Glory 580 is also a performance-oriented vehicle that leaves no stone unturned when it comes to providing a breathtaking driving experience even in the most challenging driving conditions. It has been equipped with a 1.5-litre turbocharged engine paired with a CVT transmission that generates 147 horsepower and 220Nm of torque. These figures are exceptional and make Glory 580 a high-performance SUV, which will help it become a strong contender in the SUV segment of Pakistan car market. The fuel tank capacity of the vehicle is 58-litres while not much has been revealed about the fuel efficiency of the vehicle. Building up immense hype around this SUV is also its state-of-the-art MacPherson Independent Suspension that adds to the performance capabilities of the vehicle considerably.

Safety Features

What sets the PRINCE Glory 580 apart from its competition is the availability of a plenty of advanced safety technologies as standard. Glory 580 is an absolute standout in the segment for its amazing safety systems and driver-assisting technologies that make every ride with the PRINCE Glory 580 completely safe regardless of the driving conditions.

Here are the safety features offered as standard in the PRINCE Glory 580.

• Four Airbags
• Tyre Pressure Monitoring System
• Electronic Stability program
• Child lock
• Electronic Brake Assist
• Electronic Parking Brake
• Anti-lock Braking System
• Electronic Brake force Distribution
• Parking Camera

Price and Availability

The PRINCE Glory 580 has been launched in the Pakistan market and it can be booked with a 4-month delivery time.
It has been priced at PKR 3,250,000, which is slightly expensive for a new entrant to the market, however, considering the exceptional performance capabilities and advanced technologies offered as standard, the price-tag is completely justified.

Exclusive review published in #Automark Magazine, printed edition of May-2018

written by: Syed Sarim Raza

NLC & DAIMLER AG SIGN MOU FOR LOCAL PRODUCTION OF MERCEDES‐BENZ TRUCKS BY NLC IN PAKISTAN

Muhammed Hanif Memon
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NLC & DAIMLER AG SIGN MOU FOR LOCAL PRODUCTION OF MERCEDES‐BENZ TRUCKS BY NLC IN PAKISTAN

At the largest truck manufacturing plant in the world, NLC signed an MOU with Daimler AG for local production of world renowned Mercedes‐Benz trucks by NLC in Pakistan.

The MOU was signed on behalf of NLC by Major General Mushtaq Faisal, DG NLC, and Mr. Zia Ahmed, CEO Pak NLC Motors, and on behalf of Mercedes‐Benz Special Trucks by Mr. Klaus Fischinger, Head of Executive Committee, and Dr. Ralf Forcher, Head of Sales at Woerth, Germany on 3rd May 2018. Also present at the signing were Mr. Naseem Shaikh, Director and General Manager, Shahnawaz Ltd. and Mr. Ahmed Naeem of Shahnawaz Ltd, the Authorized Distributor of Mercedes‐ Benz vehicles in Pakistan, who have been instrumental and played a key role in bringing together the two partners for this project of national importance.

Local assembly of Mercedes‐Benz trucks by NLC will mark a major shift in the domestic logistics and transportation industry towards European manufacturers who offer technologically advanced products that combine superior performance, environment friendliness, reliability and road safety.

Talking on the occasion, Major General Faisal termed the MOU as an historic moment for Pakistan’s commercial vehicle industry. He said that local assembly of Mercedes‐ Benz trucks by NLC would prove a strategic opportunity to leverage the modernization of Pakistan’s logistics industry which would benefit tremendously from having a state of the art assembly plant in Pakistan being setup by NLC that would maximize efficiency and reliability of road transport sector. Because of the incentives given in Auto Development Policy 2016‐21, local assembled Mercedes‐ Benz trucks would be offered on very competitive prices in the market. DG NLC said that local assembly of Mercedes‐Benz trucks will ensure a healthy competition in the trucking industry of the country and meet the logistics requirements of CPEC. He added that it will bring qualitative change in local vendor industry and will provide opportunities for new jobs.

Dr. Ralf Forcher, Member of Executive Committee and Head of Sales and Marketing, Mercedes‐Benz Special Trucks said “Pakistan’s infrastructure and construction sectors have registered significant growth in recent years having a direct effect on the logistics industry as it gives rise to an increased demand for commercial vehicles. By commencing local assembly operations of Mercedes‐Benz trucks in Pakistan, NLC will be able to cater for this demand more efficiently and respond to market trends quickly”.

It is pertinent to mention that strong growth in Pakistan’s GDP has contributed towards a significant boost in rising demand for commercial vehicles. In addition, the China ‐ Pak Economic Corridor (CPEC) project is also playing an important role in raising demand in this sector. Modern transportation networks built under CPEC will link seaports in Gwadar and Karachi with northern Pakistan, as well as points further north in western China and Central Asia.

#Automark #Magazine #Pakistan

Two new variants of Shell Helix premium lubricants range launched; Helix Ultra 5W-20 and Helix 0W-20

Muhammed Hanif Memon
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Two new variants of Shell Helix premium lubricants range launched; Helix Ultra 5W-20 and Helix 0W-20

Shell Helix paints 300 speed breakers as a part of its #DRIVEONPAKISTAN campaign

Shell Helix, fully synthetic motor oil – Shell’s most advanced formulation for high-performance engines launched its #DRIVEONPAKISTAN campaign in February with the objective of creating a safety mindset amongst the citizens of Pakistan,to transform their driving experience and make the roads safer.

Through this campaign, 1.2 million citizens pledged to different safety behaviors on the road and took responsibility for their driving to improve overall roads standards in Pakistan. This includes important and life-saving habits like wearing a seat belt, adhering to traffic laws, reduce speeding near schools, not using mobile phones while driving, ensuring infants are strapped in car seats and valuing safety above all other commitments while behind the wheel.

To reduce the risk of accidents or damage to vehicles,300 speed breakers were painted in various cities of Pakistan to enhance the visibility of these speed bumps.

Shell collaborated with renowned celebrities, organizations and local traffic police across multiple cities to drive adherence to traffic laws. 4,500 school children were engaged on Road Safety rules to help inculcate these behaviors in the drivers of tomorrow.

Shell also recognizes that today’s vehicles need a motor oil that keeps pace with their changing demands and does more to improve performance and engine life. Shell Helix with its cutting-edge technology also introduced two new variants of its premium plus portfolio Helix Ultra 5W-20 and Helix 0W-20 that will be available pan-Pakistan across all distribution channels.

Shell is recognized as the world leader in lubricant technology with its unrivalled investment in lubricant R&D and experience that extends over 100 years. With 350 lubricant research specialists working in six laboratories around the world specialists in base oils, additives metallurgy, chemistry and fuels are brought together to develop optimum blends. Whether for a Ferrari Formula One racing car or a family car, Shell Helix Technology helps to keep the engine running as the designers intended-at maximum efficiency.

At the event, Business Manager Lubricants, Shell Pakistan Limited, Haroon Rashid shared “These products are blended with Shell’s patent technology PUREPLUS base oil and is geared towards providing fuel efficiency with lower carbon emissions with active cleansing agents that clean your engine while you drive.”

  • Press Release #Automark

Do Electric Vehicles Have a Future in Pakistan?

Muhammed Hanif Memon
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Do Electric Vehicles Have a Future in Pakistan?

The Electric-Car Boom has taken over the world in recent years as the global drive towards finding eco-friendly commuting options has pushed famous automakers to produce more Electric Vehicles (EVs) than ever before. The demand for electric vehicles is increasing by the day, thanks to the effectiveness of EVs in improving the air quality by reducing the carbon footprint. Electric vehicles generate power from electric batteries, hence they completely diminish the need for conventional fuel, which on combustion in petrol and diesel vehicles, adds to the air pollution. The acceptance of electric cars is growing steadily across the world as the sales figures of electric cars have continued to grow over the last few years.

Future of Electric Vehicles in Pakistan

The sales of electric cars surged past the 3 million mark last year, which clearly highlights the growing demand for electric cars worldwide. Despite the global demand for electric vehicles increasing with every passing day, Pakistan is amongst the countries that have made little or no effort in taking initiatives to promote sales of electric vehicles.

The new Automotive Policy 2016 does provide an opportunity to global electric car makers to launch their vehicles in Pakistan, but because of poor infrastructure and lack of awareness amongst consumers, the future of electric vehicles in Pakistan doesn’t look promising at all.

What are the Challenges?

The industry of electric vehicles faces serious challenges in Pakistan. The major problem is the lack of awareness among common car buyers about advantages of EVs over the combustion engine vehicles. Some of the consumers in Pakistan don’t even know the absolute difference between the two, which is mainly because of the unfriendly government policiesto promote the sales of EVs.

Here are some major challenges that electric vehicles face in Pakistan:

  • The automotive industry’s giants will simply not let the Electric-Car Boom take over Pakistanas none of Pakistan’s three most famous automakers i.e. Honda, Toyota and Suzukiinvest heavilyin electric vehicles. If the demand of electric vehicles rises in Pakistan, it will affect the sales of these three automakers, which doesn’t seem like happening, considering their current stakes in Pakistan’s auto industry.
  • The shortfall of electricity and lack of infrastructure are the major reasons why the Pakistan’s government is not even taking baby steps towards boosting the scope of electric vehicles in the country as suggested by Mashood Ali Khan, the former chairman of Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam).
  • Charging time required by the electric vehicles and the driving range that they offerare considered to be the negative factors that discourage the local consumers from buying EVs. The acceptance of electric cars has only grown in countries that offer the consumers facilities such as the widespread network of thelow-cost charging stations for EVs. Countries like the United Arab Emirates are even offering free charging stations for EVs. Unless such facilities are also offered in Pakistan, the electric vehicles cannot attract the attention of consumers. According to a local industry spokesperson, bringing electric cars to Pakistan will be waste of an effort in the current scenario and Pakistan should wait for the technology to grow globally before it is offered to Pakistan’s car buyers. He said the EVs can be a viable option in Pakistan only if they offer a driving range of 700km per charge as offered by a conventional vehicle’s fuel tank.
  • Lack of resolve in government’s strategies to promote the sales of electric vehicles. Pakistan’s two giant neighbors,India and China, are investing heavily in the electric car industry and aim to replace the traditional combustion engine vehicles with renewable energy based transport by 2040 in order to improve the air quality. Pakistan, on the other hand, is set to witness a serious increase in pollution levels as the demand for combustion engine vehicles is increasing by the day.

How are EVs better than Combustion Engine Vehicles?

Electric vehicles are a clean source of energy and offer a fuel-efficient commuting option as compared to conventional combustion engine vehicles. Fuel prices have continued to fluctuate in the global markets and in the last few months, fuel prices have increased significantly in Pakistan. In this current scenario, shifting from a traditional vehicle to an electric vehicle could be an ideal choice for motorists on a tight budget in Pakistan.

Besides their effectiveness as a low-cost commuting option, EVs also offer an eco-friendly alternative to the combustion engine vehicles. With more EVs on the road, the air quality in Pakistan can improve significantly over a period of time.

Are there any Opportunities for Electric Vehicles in Pakistan?

No matter, how good the EVs may be in comparison to the conventional vehicles, the industry of electric cars cannot grow in Pakistan before the electricity outages in the country are reduced and the government sets a long-term plan to improve the air quality in Pakistan.

The China Pakistan Economic Corridor (CPEC)has brought into perspective some new projects that focus on Chinese companies producing electric vehicles in Pakistan,however, these projects are expected to mature only after four to five years or even more. With electric outages expected to reduce in coming years by meansof energy-based projects that are part of the CPEC, there is a huge possibilitythat Pakistan will start to offer more relaxation in its policies to electric car makers to grow the scope of opportunities in the electric car industry.

By Syed Sarim Raza

Published in Monthly #Automark Magazine’s April-2018 printed edition

IMC profits surge 14 per cent to Rs11.6bn

Muhammed Hanif Memon
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IMC profits surge 14 per cent to Rs11.6bn

Indus Motor Company (IMC) Friday posted after-tax profit of Rs11.6 billion up by 14 per cent during July-March 2017-18 against Rs10.2 billion, same period last year (SPLY).

The Board of Indus Motor Company Ltd announced that the combined sales of IMC Completely Knocked Down Units (CKD) and Completely Built Units (CBU) for the nine months ended March 31, 2018, clocked at 47,103 units, up 2 per cent over 46,216 units for the SPLY. Meanwhile, IMC enjoyed a 22 per cent for the nine months period.

The company’s net sales turnover for the nine months ended March 31, 2018, increased by 19 per cent to Rs100.2 billion as compared to Rs84.3 billion for the same period last year.

Commenting on the performance, IMC CEO Ali Asghar Jamali said that the increase in revenues and net profit against SPLY was mainly attributable to improved turnover of both CKD and CBU vehicles on account of minor model changes of all major vehicles during the year and improvement in operational efficiencies and sales mix.

He also said that demand momentum for automobiles remained strong throughout the period, due to rising disposable incomes, availability of reasonably priced auto financing and growth in ride-hailing services. On a nine months basis, the sales of locally manufactured PCs and LCVs witnessed an increase of 23 per cent to 198,176 units compared to 161,692 units sold during the same period last year.

The Board of Directors declared third interim cash dividend of 325 per cent at Rs32.5 per share for the quarter ended March 31, 2018 which, on cumulative basis, adds up to 950 per cent i.e. Rs95 per share for the nine months ended March 31, 2018 compared to 800 per cent i.e. Rs80 per share for the same period last year.

Pak Suzuki declares profits of Rs900mn for Q1FY2018

Muhammed Hanif Memon
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Pak Suzuki declares profits of Rs900mn for Q1FY2018

Pak Suzuki Motor Company Limited (PSMC) in the first quarter (Jan-Mar) 2018 posted a profit after tax (PAT) of Rs0.9 billion with earnings per share of Rs10.99, down by massive 31 per cent Year on Year (YoY) as against a PAT of Rs1.3 billion in the same period last year.

Sales revenue in first quarter 2018 grew by 32 per cent YoY on the back of a 58000 units increase in off-takes (up 18 per cent YoY), thanks to the impressive sales of Wagon-R, Cultus, and Mehran, and a 4 per cent YoY increase in average selling prices.

Gross margin for the quarter fell by 3.85 percentage points YoY on the back of an 18 per cent YoY increase in steel prices, and 11 per cent rupee depreciation against the Japanese Yen (JPY). This dented earnings considerably as gross profit fell by Rs287 million with an EPS of Rs3.49 per share.

On a quarterly basis, the OEM registered a handsome 24 per cent QoQ growth in earnings, on the back of a 7 per cent QoQ rise in sales revenue owing to better off-take (+16000k cars QoQ). Higher average prices meant that gross margins saw an uptick of 51bps QoQ, despite rising steel costs and a constantly falling Pakistani rupee.

Nissan introduces new retail concept at dealerships worldwide

Muhammed Hanif Memon
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Nissan introduces new retail concept at dealerships worldwide

Renovations at more than 9,000 dealerships will offer improved customer services within a globally consistent brand experience

YOKOHAMA, Japan (April 20, 2018) – Nissan Motor Co., Ltd. plans to introduce a new retail concept to dealerships around the world to improve customer services within a globally consistent brand experience, in response to diversifying expectations and lifestyles.
All Nissan-brand dealerships will be encouraged to align with the Nissan Retail Concept, or NRC. The new concept aims to improve all aspects of the customer experience at Nissan dealerships, including facility design, service process and digital environment. More than 400 dealerships in 30 countries have already made the change. Nissan aims to implement NRC at more than 9,000 dealerships in more than 170 countries by the end of fiscal year 2022.
Dealerships aligned with the Nissan Retail Concept feature a number of new design elements, such as an exterior with the familiar red Nissan signage and an exclusive delivery area that enhances the exciting moment when customers receive their vehicle. Customers will also be able to learn about Nissan cars using a digital car configurator and navigate through the service process on salespeople’s tablet computers. NRC also incorporates the Nissan brand’s key elements, such as Nissan Intelligent Mobility, electric vehicles, light commercial vehicles and the NISMO performance sub-brand.
NRC has been rolled out in North America, Europe and China. Beginning this fiscal year, Nissan is renovating dealerships in Japan, and the company will continue carrying out NRC in tandem with efforts to optimize its sales network.
“The relationship between dealers and customers is changing, with customers expecting a more digital and customized experience. So Nissan is proud to introduce a new retail concept to deliver these exciting and diverse customer experiences worldwide,” said Daniele Schillaci, executive vice president for global marketing and sales at Nissan. “The Nissan Retail Concept will improve all aspects of a customer’s experience, from the minute they arrive at a Nissan-brand dealer until the moment they hopefully drive away in their new Nissan.” – PR

Forland Bravo 1.0 Technical Review 2018 by Team Automark

Muhammed Hanif Memon
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Forland Bravo 1.0 Technical Review 2018 by Team Automark

Team Automark presents Forland Bravo 1.0 Technical Review 2018.
Foton company released a new truck which is Forland Bravo 1.0 and they all are available in a reasonable price. Check out the review for further details.

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