Daily Times

Pakistan’s tractor market experienced a significant downturn in the first two months of the current fiscal year, with sales plunging by 38% year-on-year. According to data from the Pakistan Automotive Manufacturers Association (PAMA), only 4,130 tractor units were sold during July and August 2024, compared to 6,645 units sold during the same period last year. In August 2024 alone, 2,670 tractors were sold, reflecting a 33% drop from the 3,967 units sold in August 2023. However, compared to July 2024, tractor sales saw a sharp 83% increase, rising from 1,460 units to 2,670 in August. The breakdown of sales shows that Al-Ghazi Tractors Ltd (AGTL) sold 2,307 units, a 10% decrease compared to the same period last year, while Millat Tractors Ltd (MTL) sold 1,823 units, marking a 55% decline from 4,068 units sold in the first two months of FY2023.