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Previously, Hyundai used to assemble cars in Pakistan until 2004, when their local partner Dewan Farooque Motors went bankrupt. [6] Hyundai Nishat Motor signed an investment agreement with the Ministry of Industries and Production under the Automotive Development Policy 2016-21. [7] [8] Hyundai Nishat Motor launched Elantra sedan in March 2021. [9]
Dewan Farooque Motors Company Limited was incorporated in December 1998 by Dewan Yousuf Farooqui to assemble Hyundai and Kia vehicles in Pakistan. [2] This followed an earlier introduction of Kia cars in 1994 by Naya Daur Motors, which reportedly collected around Rs 800 million in booking fees from approximately 16,000 customers but delivered only a limited number of vehicles before its collapse.
Despite being obsolete, the car still had a high demand. In September 2018 (the highest selling year for the model), Pak Suzuki accounted for having sold 47,199 units in the country. From June 1999 to 2018, just under 600,000 Mehrans were sold in Pakistan. The lowest number sold was in 2001, with 5,169 units sold.
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Later in 2020, Sat-Nav was also available on VXL models. This was also the first Pakistani car that had AGS technology. The Pakistani variant of the Celerio was offered under the original name by Maruti Suzuki in India and Suzuki Motor Thailand in Rayong Province Thailand. The Celerio replaces the A-Star and Zen Estilo. [12] [13]
Toyota Indus's Corolla is the most assembled car in Pakistan. In 2017, 52,874 models were made. The automotive industry in Pakistan is one of fastest-growing industries in the country, growing by 171% between 2014 and 2018. It accounts for 7% of Pakistan's GDP and employed a workforce of over 6.8 million people as of 2024. Pakistan is the 15th ...
The FBR conducted a thorough investigation and found NO evidence of under-invoicing. MG Motors had already denied any wrongdoing and stated that they were committed to following all relevant laws and regulations. [13] In the beginning of 2023, The retail price of MG Essence increased by 19% in Pakistan due to an increase in custom duties. [14]
Sazgar Engineering Works was founded in September 1991 as a private limited company. [3] It was converted into a public limited company in November 1994. [3] In 1996, it was listed on the Karachi Stock Exchange.