The struggle to gain market share has even grown far between the companies. After getting good sales volume in year 2017 and 1st half of 2018. Tractor companies in Pakistan are once again facing bad time. Due to less new tractor demand sales have gone down significantly. This decline is not only on the tractor industry but all automobile companies are having it.
Tractor Industry Sales in Pakistan 2019
Total number of tractors sold in year 2019 are 41145 Vs 63054 tractors in year 2018. There is 35% decline in the tractor industry. Quarter wise sales breakup of 2019 is given below.
|Month||Millat||AL Ghazi||Orient / Bull Power||Total|
|Grand Total 2019||25179||15720||246||41145|
|Total MS 2019||61.20%||38.21%||0.60%||100.00%|
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If we compare the industry with the year 2018 it has decreased by 35% SPLY (Jan-Dec). There are some factors in creating this situation mentioned below.
- Pakistani Rupee devaluation resulting in an increase in prices.
- The buying power of customers has decreased.
- Farmers could not earn well from their crops
- The arrival of new government which has failed to provide a good environment for the business.
- Profit uncertainty for investors.
Let’s see whats happens in the next year (2020). But apparently it seems not giving a good gesture to boost up the tractor sales. The current market share of the tractor companies might not get change.