Hyundai and Kia were launched by one of the companies of the Dewan group, Dewan Farooq Motors Limited (DFML). Both Hyundai and Kia were manufactured as what the industry folks called to be the most advanced plant in the country with robots painting your car and what not. However, as well as the Santo and Spectra were received in Pakistan, the group and the company was hit by a debt a crisis and had to shut down as bank’s began filing suits against them.
But after three years of remaining in losses and being shut down, DFML quietly resumed the production of the models in October-November in 2013 and actually posted a profit of 47.4 million rupees on Thursday for the second quarter of 2014 with a sales of 511 million rupees which has surprised everyone, despite enduring 12 successive quarters in losses.
An industry official said that the DFML already had 800 to 1000 CKD kits lying in the plant and all they needed was working capital to run those machines to assemble those CKD kits into cars.
When the financial crisis unfolded in 2008, banks tightened their circle around the company to surrender its outlying debt, even today, DFML is fighting cases against banks who have filed cases in courts for 7.2 billion rupees.
But as one former company executive pointed out that what the banks didn’t realize that the company was having just one bad patch while its vehicles were still selling like hot cakes and even to this day, Shehzore has been unrivaled in 1-Ton truck category.
The profit, though it may be surprising, but it is a good sign for the company and for the Pakistani consumers as Hyundai and Kia cars are taking the world by storm and it is about time we get the Elantra here because, it will clean bowl Pakistanis through its looks and we know how good it is by seeing how it has been continually replacing Corollas in the middle-east.
The story normally circulating about their exit was extortion from the previous government's head and kind of matches the timing of their exit and re-entry, this makes much more sense then a company closing down because of debts and then quietly resuming production just when they felt like it.
production of what models?
What models are upcoming? Are they going to launch Santro/i10 etc?
Exaggerated article, i worked in this plant for 2.5 years, there is no upcoming model of hyundai or kia in pakistan, hyundai nd kia both are finished in pakistan, at the moment there is no ckd left nd dewan motor is now negotiating with renault france to introduce their product.
Heard rumors about it.. some claimed they've seen new Santros on roads too.. My mechanic, an ex employee in one of the outlets in Lahore, said they contacted him to re-hire as they're resuming operations.
It is certainly good news. As Hyndai Elantra is one of my favourite cars.
do some research before you post such articles ….. Hyundai / Kia distributorship to Dewan cancelled way back.
Ustad itna sach nai boltay….
Introduction of the new i10 in place of the Santro, i20 as a competitor to the Swift and the Hyundai Accent against Honda City would be a good move. Hyundai Elantra, even though it is a beautiful car, won't be able to make inroads in the market segment dominated by Corolla and Civic. This is all wishful thinking and I tend to agree that this topic has been exaggerated somewhat. But if Hyundai really is coming back to Pakistan, they should really introduce the i10 in the 1000cc passenger car segment. It'll be an instant hit. The i10 is quite popular in the U.K as a city car.
it,ll give hard time to Toyota and Honda .
Read dawn, tribune,etc everyone has the same story. We normally get such comments but trust me, we have our research.
Dawn, tribune, etc are all wrong but u r right Hayn boss?! 🙂
Everyone is running the same storu but we usually get such comments that we are inccorect and u can check from articles but we are found normally correct. Cheers.
http://www.dawn.com/news/1086386/car-sales-inch-up
http://tribune.com.pk/story/676976/resurgence-maker-of-spectra-santro-making-a-cautious-comeback/
We normally dont reply with sources to such comments but I am frankly fed up with people's ability to google. http://www.dawn.com/news/1086386/car-sales-inch-up
http://tribune.com.pk/story/676976/resurgence-maker-of-spectra-santro-making-a-cautious-comeback/
We normally dont reply with sources to such comments but I am frankly fed up with people's ability to google. http://www.dawn.com/news/1086386/car-sales-inch-up
http://tribune.com.pk/story/676976/resurgence-maker-of-spectra-santro-making-a-cautious-comeback/
Baber Kaleem Khan, my arrears are still due
Ahan. Do u want to tell ur story here? That the plant is working and they have posted a profit yet ur arrears are due? Email me herr then: [email protected]
But please dont spread wrong accusations abt us that we publish wrong material, etc when u dont know it. It is hard to gain trust.
Baber Kaleem Khan , 2morow i will post latest situation in DFML.
m not saying that they hadn't produced any unit in December & January what my point was that it was only leftover CKD.
We also said that they assembled the 1000 leftover ckds in the article. Pleaseread, we also didnt say that they were going to introduce new modeld, we said that wished they would. Please read before. Thanks. Yeah, do update us.
Baber Kaleem Khan , i read it carefully , u were trying to give impression that hyundai & kia are back now. my point is "they are finished". gave you info abt Renault
Now what ???? Hyundai ????
Instead of you copying and pasting it on pakwheel , call DFML and check , they are only asembling left over ckd of santro and shehzore .
Imran Younus Gandhi To hum bhi to yehi keh rahay thay mere bhai uper. Perha nahi kiya?! And copy/pasting… =/
http://www.pama.org.pk/statistical-information/sales-production/monthly-sales-production/72?ml=1
check this for production details for shehzore and santro
http://www.pama.org.pk/statistical-information/sales-production/monthly-sales-production/72?ml=1
check this for production details for shehzore and santro
https://www.pakwheels.com/blog/2014/03/27/dewan-farooq-motors-bringing-renault-duster-pakistan/?utm_content=buffer434e0&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer
(Fatehullah Khan ·
Exaggerated article, i worked in this plant for 2.5 years, there is no upcoming model of hyundai or kia in pakistan, hyundai nd kia both are finished in pakistan, at the moment there is no ckd left nd dewan motor is now negotiating with renault france to introduce their product.)
Its good that santro came but i would request to DFML please improve after sale service. I have been at Sajjad Hyundai Motors for first free service. It was so dirty and staff was rude that i really cant express. It was horrible experiance.