Dewan Farooque Motors

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Dewan Farooque Motors Ltd.
Company typeCorporation
DFML
IndustryAutomotive
FoundedDecember 28, 1998
Defunct2019
HeadquartersKarachi, Pakistan
Key people
Haroon Iqbal (Chairman) Waseem-ul-Haq Ansari (CEO)
ProductsAutomobiles
ParentYousuf Dewan Companies
Websitehttp://www.yousufdewan.com/DFML/index.html

Dewan Farooque Motors Limited (Urdu: دیوان فاروق موٹرز لمیٹڈ) is a Pakistani automobile manufacturer based in Karachi, Pakistan.[1] The major activities by the company are assembling, manufacturing and sale of vehicles.[2]

In 2016, the company agreed to resume production of vehicles of Indian multinational Mahindra & Mahindra's South Korea based subsidiary SsangYong, as Daehan-Dewan[3][4] at its assembly plant in Sujawal.[1]

History[edit]

Dewan Farooque Motors Limited was incorporated on 28 December 1998.

Dewan Farooque partnered with Korean brands like Hyundai and Kia to produce its first car on January 15, 2000. The company received an extraordinary response especially for its Hyundai Santro and Hyundai Shahzore models. Company sales grew well until 2008 when it faced various challenges.[5] In 2009, automobile production stopped. After a gap of three years, Dewan Farooque Motors produced a few hundred cars in fiscal year 2014 and 2015 based on its old inventory. Dewan Farooque Motors in October 2016 announced that the company would start assembling vehicles in 2017 again.[6]

On 19 January 2018, Dewan Farooque Motors announced it has received approval for its Brownfield plant from the Engineering Development Board and is expected to resume vehicle production from February 2018. On February 25, 2018 Dewan launched a cargo pickup truck under the popular Shehzore nameplate in collaboration with Daehan Motors (Vietnam).[7][8]

The market capital of the company is PKR 579,913,310. The free float is 40%.[2] They are currently showing as a defaulter in Pakistan Stock Exchange [9] which means they are not doing well in Business.

Products[edit]

See also[edit]

References[edit]

  1. ^ a b "DFML". www.yousufdewan.com.
  2. ^ a b "DFML - Stock quote for Dewan Farooque Motors Limited - Pakistan Stock Exchange (PSX)". dps.psx.com.pk. Retrieved 2020-05-27.
  3. ^ Reporter, The Newspaper's Staff (August 11, 2016). "DFML to revive manufacturing plant". DAWN.COM.
  4. ^ "Dewan Farooque applies for resuming car production". The Express Tribune. August 11, 2016.
  5. ^ "Dewan Farooque to resume production from October". The Express Tribune. September 6, 2016.
  6. ^ Rahman, Abdul (5 September 2016). "Dewan Farooque Motors is Resuming Vehicle Production in Pakistan".
  7. ^ "Dewan Launches the New 2018 Shehzore Pickup - CarSpiritPK". www.carspiritpk.com. 25 February 2018.
  8. ^ Hussain, Arshad (June 25, 2018). "Daehan: Korean or Vietnamese? Well, what's in a nationality?". Profit by Pakistan Today.
  9. ^ "DFML - Stock quote for Dewan Farooque Motors Limited - Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange (PSX). Retrieved 4 June 2021.
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