The prevailing economic uncertainty in the country, especially depreciating Rupee against the US Dollar, and lack of availability of CKD units leading to plant closures is wreaking havoc on the sales and prices of automobiles. Agricultural and farm machinery is also feeling the heat as Millat Tractors, too, has increased the prices of its tractors with immediate effect. This is the second price hike in a short period of time with Millat Tractors’ prices going up as recently as January 31, 2023. Here’s the latest, increased Millat Tractor price across Pakistan:
| Model | Old Price | New Price | Difference |
| MF-240 | 1,795,000 | 1,894,000 | 99,000 |
| MF-260 | 2,075,000 | 2,185,000 | 110,000 |
| MF-360 | 2,195,000 | 2,307,000 | 112,000 |
| MF-360 4WD | 3,140,000 | 3,222,000 | 82,000 |
| MG-375 | 2,766,000 | 2,885,000 | 119,000 |
| MF-375 4WD | 3,730,000 | 3,823, 000 | 93,000 |
| MF-385 | 2,860,000 | 2,992,000 | 132,000 |
| MF-385 4WD | 3,788,000 | 3,902,000 | 114,000 |
Analysis
This price hike is bad news on a variety of levels. Other than taking new tractors out of the reach of farmers and agriculturists, it will feed into increasing the prices of staple foods in Pakistan. Rabi crops, especially wheat, will soon be ready for harvest. Using an even more expensive tractor means more expensive wheat, a staple diet in Pakistan. To make matters worse, the government has recently raised the per litre price of diesel.
For more information: Fuel Prices in Pakistan: The Bomb Exploded Sooner Than Expected
Massey Ferguson (MF), a brand of Millat Tractors, has been posting negative sales for a long time. According to the latest Pakistan Automotive Manufacturers Association (PAMA) statistics, MFs month-on-month sales declined by 55% from November to December 2022. Its year-on-year (Dec ‘21 – Dec ‘22) sales also declined – 85%.
This latest Millat tractor price in Pakistan will further drive down these sales figures. As new tractors get out of the reach of many, used Millat Tractors in Pakistan would become hot in the market. Do check out their prices on OLX Pakistan.
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