2023: A Phenomenal Year for Sazgar Haval
However, although the industry was struggling, with every assembler experiencing an enormous decline in sales, only one player saw a meteoric surge in sales. And it was none other than Sazgar Haval.
Despite targeting a niche clientele, Haval experienced a spectacular 460% surge in sales for the calendar year 2023, selling an impressive 2,475 units compared to 442 units sold the previous year in 2022. And while Sazgarās other venture with BAIC continues to struggle with its lone product BJ40 Plus, which saw only 141 units sold in 2023 compared to 468 units in 2022 for a dismal 70% decline in sales, the company is extremely well compensated by its Haval venture.
Considering the fact that locally assembled Haval was first launched in September 2022, the average of its monthly sales was 110 units that year. Compared to this, the average of its sales in 2023 increased by 87% to 206 units a month, which is indeed quite impressive for a newly introduced brand in Pakistan having a Chinese origin.
Even though the economy is in turmoil, with Haval on board, Sazgarās revenues surged by 77% during the first half of 2023, while the performance during the second half of the year is expected to be equally impressive too (results awaited). More interestingly, for Sazgar over 80% of the half-yearās revenues came from four-wheelers, which implies the remaining 20% was made up of about 9,000 rickshaws and 37,500 tractor-wheel rims.
Pakistanās annual vehicle production numbers have dwindled sharply in recent years, and it remains to be seen whether they can rebound to pre-crisis levels, if not improve much further. But Sazgarās move with Haval has paid them off extremely well although they continue to struggle with the BAIC vehicles. Whether Haval will continue its impressive sales momentum in 2024, we will have to wait to find out.
https://carspiritpk.com/2023-a-phenomenal-year-for-sazgar-haval/