Tractor sales boom in Pakistan
ISLAMABAD, Dec 12: The sale of tractors in Pakistan witnessed a significant increase in the first five months of the current financial year (FY) compared to the same period last year, according to data released by the All Pakistan Auto Manufacturers Association (APAMA).
The report revealed that AGTL, a leading tractor manufacturer in the country, sold 7,806 units during this period, representing a remarkable 66% rise compared to the 4,698 units sold in the same period of FY 2022-23. Notably, AGTL's sales saw a surge in November 2023, reaching 701 units, compared to 2202 units in October and a mere 137 units in November 2022.
Similarly, Millat, another major player in the tractor market, experienced a phenomenal 124% increase in sales, recording 13,000 units in the first five months of FY 2023-24. This represents a significant jump compared to the 5,803 units sold in the same period of the previous year. In November 2023 alone, Millat's sales reached 2,809 units, exceeding the 3,004 units sold in October and significantly surpassing the 1,103 units sold in November 2022.
These remarkable sales figures highlight the growing demand for tractors in Pakistan, indicating a positive trend in the agricultural sector. The increase is attributed to various factors, including government support for farmers, favorable weather conditions, and rising crop prices. The surge in tractor sales reflects the optimism and potential for growth within the agricultural sector and is expected to continue in the coming months.
