Hit / Decline: Tractor Domestic Wholesale Growth For The Month Of May- 2021 ?

Hit / Decline: Tractor Domestic Wholesale Growth For The Month Of May- 2021 ?

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Talking about the tractor wholesale growth for various tractor brands, the industry has again recorded an extreme sales performance during the last Month of May 2021 as compared to the previous year of the same month. Though the country is facing a tough situation, the tractor industry proves itself about its existence in the rise of the agriculture sector by selling more units of tractors during this year too.

Coming up with the largest growth of domestic tractor wholesale record of the tractor brand i.e. Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, in the month of May 2021, the company sold 22843 units of tractor while against 24017 units in the last year of the same month. Somehow, there is a decrease in the tractor sales units and market growth recorded of -4.9%. But, the market share has increased by 41.1% as compared to the previous year.

Additionally, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said,

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“We have sold 22843 tractors in the domestic market during May 2021. In May, COVID spread in rural markets led to stringent lockdowns, leading to deferment of tractor purchase and limited operations at dealerships. While state specific lockdowns and localized restrictions continue, it is heartening to see the Covid cases reducing sharply. This is leading to sharp improvement in farmer sentiments and green shoots of recovery are visible, especially since the last week, as farmers start preparing their land for upcoming Kharif crop season. A bumper Rabi harvest, record procurement, food prices holding up, gradual opening up of Mandis and expectations of a normal monsoon will pave the way for growth in the upcoming season. In the exports market, we have sold 1341 tractors with a growth of 314% over last year.”

Coming up with the next booming tractor industry TAFE that recorded the biggest loss in wholesale growth by selling 9,505 units of tractors in May 2021 as against 14070 units in the last year of the same month. The company however records -32.4 %of the market growth in this year of the last month but also a little decline in the market share.

With the fastest- growing tractor industries Sonalika urges a loss of -783% that is the most efficient from the previous year. Though, the company also records growth in the market share by 12.3%. Sonalika tractors 6857 units were sold in May 2021 whereas, in the last year of the same period tractors were sold of 7640 units.

The other famous tractor industry John Deere has marked a growth of 26.7 %. The company sold 4,321 units of tractors in May’21 while 3,411 units of tractors were sold in May ’20. The company’s market share has increased by 7.8% from 5.6 % as compared to the previous year.

Another leading company of India Escorts, headquartered in Faridabad, Haryana. Escorts company records a loss of -4.6 % with those of 6158 units tractors sold in MAy’21 while selling 6,454 units in MAy’ 20. The market share increased by 11.1 % compared to the previous year.

New Holland tractor company broke the wholesale growth record by – 10.5 % with selling 2,189 units of tractors in May ’21 while in May ’20 total 2447 units of tractors were sold. While there is a decline of 3.63% in the market share in the last month as compared to the previous year of the same month.

The other tractor brand Kubota also gained a145.5 % profit. Also, the company recorded 1,382 units of tractors in May ’21 while 536 units were sold in May ’20. The company urges a growth in the market share by 2.5%

The Indo farm tractor industry boom by 109.1% of sales record. Also, the company urges the market share by 0.9%. The company recorded 508 units of tractors in May ’21 whereas 243 units of tractors were sold during the last year of the same month.

Talking about the most efficient tractor company Preet has also recorded the highest growth by 254.7 % of tractor sales. The company also gained its market share by 0.9% in this year of May 21. Also, the company sold 525 units of tractors in May 2021 as compared to 148 units of tractors in the previous year of the same.

VST tractor brand industry records a sales loss of -17.5%. While the company sold 496 units of tractors in May ’21 with those of 601 units of tractors in May ’20. The company has lost its market share.

Force Motors company also records a sales loss of – 31.1 %. While selling 175 units of tractors in May ’21. On the other hand, the market share of the company declined by 0.3%.

Captain Tractor industry also recorded a sales growth of 69.1% while selling 433 units of tractors in May ’21. Also, the company records a market share of 0.8%.

Same Deutz Fahr shows the sales loss by 39.3% while selling 91 units of tractors in May 2021. Also, the market share of the company is 0.2%.

In the whole tractor brand industry, the ACE tractor industry has also marked the decline in the growth in sales of tractors by -38%. And, also the market share declined by 0.2%.

An overall tractor industry has loosened the market growth sales except few brands during the Month of May recording-8.01% of tractor sales as compared to the previous year of the same month. Thus, we can say that the overall selling units of the tractor brands was not appropriate as compared to the previous year of May month.

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