ISLAMABAD: During the first eight months of the financial year 2023-24, the production of farm tractors in the country surged by 68.61 percent to reach 31,915 units, compared to 18,928 units manufactured during the same period in the previous fiscal year 2022-23.
However, there was a downward trend in the production of trucks, which decreased by 47.42 percent from 2,427 units to 1,276 units from July to February, according to data from the Pakistan Automobile Manufacturing Association (PAMA).
Similarly, the production of pickups, Light Commercial Vehicles (LCVs), and Jeeps also experienced a significant decline of 50.35 percent, dropping to 12,052 units during the review period from 24,278 units in the fiscal year 2022-23.
According to the PAMA report, buses saw a decline in production by 50.55 percent, with the number decreasing from 2,991 units to 1,479 units during the fiscal year 2024.
The production of passenger cars also witnessed a decrease to 48,402 units compared to 81,809 units in July-February.
Moreover, the manufacturing of motorcycles and three-wheelers in the country experienced a notable plunge, declining to 741,333 units from 850,514 units, marking a decrease of 12.83 percent, as indicated by the data.
—APP
