In February 2024, domestic tractor sales in India experienced a decline of 16.59%. The brands sold 51,774 tractors in February 2024, compared to 62,075 tractors sold during February 2023. However, industry insiders anticipate a notable increase in the upcoming season.
February 2024 Domestic Tractor Sales Report – Brand Breakdown
India’s leading tractor manufacturer, Mahindra Tractor, recorded sales of 20,121 tractors in February 2024. This represented a decrease of 18.27% compared to February 2023, when 24,619 tractors were sold. Moreover, Mahindra witnessed a 0.80% decline in its market share during this period.
In reference to the performance, Hemant Sikka, President, remarked, “We have attained sales of 20,121 tractors in the domestic market for February 2024.”Southern and western states still grapple with agricultural challenges caused by unpredictable and insufficient monsoon rains. However, the Rabi crop outlook is very promising, with the wheat crop expected to be a bumper harvest. Harvesting has commenced in a few states with government support for early procurement of wheat crops. Continued government support through various rural schemes and the expansion of institutional credit will further enhance tractor demand in the future. In the export market, we have sold 1,551 tractors, marking a growth of 32% over the previous year.”
In February 2024, TAFE sold 8,455 domestic tractors, a 24.73% decrease from the previous year’s sales of 11,233 tractors in the comparable month last year. Additionally, TAFE saw a 1.77% drop in market share.
In February 2024, Sonalika International sold 6,911 tractors, a 1.19% decrease in sales from the 6,994 tractors sold the same the previous year. Furthermore, the data indicates that the brand’s market share has increased by 2.08%.
Escorts sold 6,041 tractors in February 2024, a 16.62% drop from the 7,245 tractors sold in the same month the previous year. However, the company made little money and maintained its market share.
John Deere sold 5,037 tractors in February 2024, a 12.57% decline over 5,761 units sold the year before. In addition, there was a tiny 0.45% benefit in the brand’s market share.
Sales of Kubota tractors totaled 1,228 units in February 2024, a notable decrease of 29.95% from 1,753 units in the identical month the previous year. The company’s market share declined by 0.45% at the same time.
Preet sold 389 tractors domestically in February 2024, a sharp decrease of 27.96% from 540 units sold in the same month the previous year. In addition, the data shows a small drop in market share of 0.12%.
In February 2024, New Holland sold 2559 tractors, marking a 0.12% increase compared to the previous year, which recorded sales of 2556 tractor units. the brand’s market share experienced a positive growth with 0.83%.
Comparably, Indo Farm tractors saw a 24.79% decline in domestic tractor sales in February 2024, selling 355 tractors as opposed to 472 in the same month the previous year. In addition, all through this time the company’s market share decreased by 0.07%.
Based on VST’s domestic sales report, 237 tractors were sold in February 2024, which is 28.40% less than the 331 tractors sold in the same month in 2023. The brand’s market share was also reduced by 0.08%.
In February 2024, Captain Tractor sold 220 tractors, a notable 24.14% increase in sales over February 2023, when 290 tractors were sold. However, the brand’s market share decreased by a negligible 0.04%.
With just 171 tractors sold in February 2024 compared to 225 tractors in February 2023, ACE Tractor’s domestic sales saw a 24.00% decrease. In addition, ACE tractors’ market share dropped by 0.03%.
Domestic sales of SDF tractors saw a 10.71% decrease in February 2024, with 50 units sold as opposed to 56 tractors in the same month in 2023. As a result, the market share was raised by 0.01%.
51,774 tractors were sold in February 2024, according to the aggregate domestic tractor sales report. This is a decline of 16.59% from the 62,075 tractors sold in February 2023.
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