The Indian agriculture industry is one of the best agricultural industries in the world. The farm mechanization sector is increasing day by day in India. Indian farmers are upgrading themselves in each sector including farm mechanization. They are accepting new technologies and using them for good crop yield. In farm mechanization, the tractor is the heart of the agricultural sector. Year by year tractor industry is growing very fast. Farmers’ approach towards tractors is changing. In FY2022 – 23 retail tractor sales reached the highest peak ever with sales of 9,45,319 units with a growth of 12.24%
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Let’s have a look at the retail tractor industry report of the financial year 2022 – 23.
Retail Tractor Industry Sales of FY23 Report:
Mahindra Tractor is India’s leading tractor manufacturer. Mahindra tractors sold 389531 units in FY 2022 – 23 with a growth of 15.57% compared to last year’s tractor sales. Mahindra Tractors has achieved a huge number of tractor sales in the Indian tractor industry.
Sonalika tractor sales for FY 23 were recorded at 116000 units with a growth of 14.78%. TAFE, who collaborated with Massey Ferguson and Eicher registered a growth of 12.13% in retail tractor sales. And Escort registered a growth of 9.29% in retail tractor sales. TAFE and Escort retail tractor sales were 169850 and 95266 units respectively in FY 23.
India’s one of the leading tractor manufacturers, John Deere sold 82367 units in FY23. John Deere registered a growth of 4.22% in retail tractor sales in FY23. New Holland tractor sales surged to 35367 units, up 10.34% in FY23. Kubota Tractor sold 25711 units in FY23 with a growth of 21.83%. ACE tractor has recorded a growth of 26.71% by selling 3074 units in FY23.
Indo Farm, Preet, VST, Force, and Deutz Fahr have recorded a 7.00%, 10.65%, 18.26%, 4.21%, and 38.51% decline in retail tractor sales in FY23 with the sales of 6445, 6390, 5422, 4326, and 1025 units respectively.
Overall, Tractor Industry retail tractor surged by 9,45,319 units with a huge growth of 12.24% in the Financial Year 2022 – 23.
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