Tractor Boom Powers Auto Sector Surge in December 2024

Karachi: In December 2024, Pakistan’s auto sector experienced a substantial increase in sales volumes, marking a 99% year-on-year growth with total industry sales reaching 17,002 units. This surge was predominantly driven by a 170% rise in tractor sales, alongside a 60% increase in passenger car sales.

According to a statement by AKD Securities Limited, passenger cars with engine capacities of 800cc and below were the leading segment, selling 4,345 units, reflecting a 79% increase from the previous year. Sales of vehicles with engine capacities of 1000cc and above also rose by 67%, totaling 2,977 units. This growth was largely fueled by the increased sales of popular models such as Corolla, Yaris, and Corolla Cross.

The statement further detailed that among the major original equipment manufacturers, INDU and HCAR recorded year-on-year growth of 142% and 23%, respectively. The notable rise in tractor sales was attributed to the implementation of the Punjab Green Tractor Scheme.

Despite the significant gains, the industry has yet to return to its peak levels, and a full recovery is expected to take more time. Nonetheless, ‘INDU’ remains the preferred choice, with a December 2025 target price set at PkR3,350 per share.

The post Tractor Boom Powers Auto Sector Surge in December 2024 appeared first on Pakistan Business News.