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Articles for tag: discounts, Drop, farmers, fears, industry, parts, sales, tractor, Tractor spare parts

May 23, 2024

News Desk

The tractor parts industry fears a drop in sales

LAHORE: The tractor parts industry is bracing for a downward trend in sales like the previous financial year (2022-23) when sales remained low due to poor economic conditions in the country. Tractor sales this year are likely to touch 40,000 units, thanks to the government’s low-margin loan scheme. However, spare parts sales are still 50% below the country’s tractor production capacity, said Pakistan Association of Auto Parts and Accessories Manufacturers (Paapam), Abdul Rehman Aizaz. He pointed out that the Punjab government had a tradition of buying significant quantity of wheat at the announced support price, but due to lack of

May 14, 2024

News Desk

29% drop in passenger car sales

KARACHI: In fiscal year 2024 (from July to April), passenger car sales saw a significant drop to 62,962 units, a staggering 29% decline. This downturn is attributed to various factors including high interest rates, rising inflation and declining purchasing power, according to the Pakistan Automobile Manufacturers Association (PAMA). PAMA data also revealed a sharp drop in truck and bus sales, plummeting to 1,747 units (down 41%) and 371 units (down 35.3%), respectively. Likewise, sales of jeeps and pickups fell to 16,633 units, reflecting a 37.8% decline. Additionally, sales of both two-wheelers and three-wheelers, including motorcycles and rickshaws, declined to 941,406

April 18, 2024

News Desk

Car sales down 36.9% in 2024

KARACHI: Passenger car sales plummeted to 54,089 units, a significant drop of 36.9% in the first nine months of fiscal 2024 (July to March). This downturn can be attributed to various factors such as rising inflation, reduced purchasing power, high interest rates, expensive car financing and rising car prices, according to data provided by the Pakistan Automobile Manufacturers Association (PAMA ). In addition, PAMA reported significant declines in truck and bus sales of 45.2% and 39% respectively. Sales of jeeps and pick-ups also fell by 40.3%, while sales of two-wheelers and three-wheelers (motorcycles and rickshaws) decreased by 9.9%. In contrast,

April 16, 2024

News Desk

Urea sales estimated to grow 21%

LAHORE: Sales of urea, an important input for agricultural production, are likely to increase to around 590,000 tonnes in March 2024, according to a research report released on Monday by JS Global. If the numbers come in as expected, it will translate to a 21% year-on-year (YoY) increase as total urea intake was 489,000 tonnes in the same month last year. On a month-on-month (MoM) basis, demand is likely to have increased by 9% as urea sales were 543,000 tonnes in February 2024. For diammonium phosphate (DAP), the research house forecast sales of around 119,000 tonnes in March, an impressive

April 1, 2024

News Desk

Would-be Tesla buyers snub the company as Musk’s reputation falls

LONDON/ AS FRENCH: The ranks of would-be Tesla buyers in the United States are shrinking, according to a survey by market intelligence firm Caliber, which attributed the decline in part to CEO Elon Musk’s polarizing personality. While Tesla continued to post strong sales growth last year, helped by aggressive price cuts, the electric vehicle maker is expected to report weak quarterly sales as early as Tuesday. Caliber’s “view score” for Tesla is provided exclusively to Reutersit fell to 31% in February, less than half of its high of 70% in November 2021, when it began tracking consumer interest in the

March 13, 2024

News Desk

Car sales fall 8% amid economic pressure

KARACHI: Car sales fell to 9,709 units, down 8 percent month-on-month due to factors such as rising car prices, expensive car financing and low consumer purchasing power, according to data reported by the Pakistan Automobile Manufacturers Association. (PAMA), compiled and shared by Topline Securities on Tuesday. Additionally, there was a significant 57% year-on-year increase in car sales in February 2024. Additionally, non-PAMA car sales totaled 10,900 units, reflecting a 7% month-on-month decline, while sales rose 52% year-on-year in February 2024. Analysts and automakers said it would take time for sales to strengthen as the country’s economic conditions worsen and buying

November 25, 2023

News Desk

Calm has been restored to the streets of Dublin after 34 were arrested for rioting

DUBLIN: Calm was restored to the streets of central Dublin on Friday night amid a heavy police presence after 34 people were arrested following riots the previous night sparked by the stabbing of three young children in the street. Police were on alert for further violence when rioters smashed shop windows. they set fire to police cars, buses and a tram. and clashed with officers in and around the central boulevard of O’Connell Street with violence rarely seen in the Irish capital. Shoppers and tourists returned on Black Friday morning, passing police officers guarding looted shops as burned vehicles were

November 5, 2023

News Desk

Bike dealers are demanding price cuts as sales plummet

KARACHI: Motorcycle sales have fallen by 80% due to high inflation, prompting dealers to appeal to bike assemblers and car parts sellers to cut prices, taking into account the declining purchasing power of customers. “We are looking for motorcycle buyers as sales of all bikes have fallen. Recently, the US dollar has depreciated significantly against the Pakistani rupee and petrol prices have also come down, but customers are yet to get any relief,” Karachi Motorcycle Dealers Association President Mohammad Ahsan Gujjar told The Express Tribune . “About 30,000 motorcycles were sold in a month in Karachi and now we are

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