Tractor industry facing worst crisis in terms of sales, output
Tractor industry facing the worst crisis in terms of sales, output
LAHORE (Web Desk) – Pakistan’s tractor industry is passing through its worst period in terms of sales and output as coronavirus pandemic and lockdown have negatively affected the sector.
According to details, after coronavirus outbreak in the country demands for tractor further plunged forcing all four manufacturers of to operate at less than 50 percent of their production capacity.
In FY2019-18, industry showed signs of revival and sold 70887 tractors which is the highest annual sales in the decade. However sales dropped significantly to 50405 units in FY2018-19.
Industry sales continue to decline further in current fiscal year as only 23506 units were sold in first nine months.
