India’s domestic tractor sales are seen declining by 14.94% in January 2024. The brand sold 55589 tractors in January 2024, compared to 65353 tractors sold in January 2023. However, industry insiders are expecting a significant uptick next season.
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January 2024: Domestic Tractor Sales Report – Brand Wise:
Mahindra tractor: In January 2024, Mahindra Tractors, the leading tractor manufacturer in India, achieved the sales figure of 22,972 tractors sold. Compared to January 2023, when 27626 tractors were sold, this represents a decline of 16.85%. Furthermore, Mahindra’s market share has declined by 0.95% in this time frame.
Commenting on the results, President Hemant Sikkaji said, “We have sold 22972 tractors in the domestic market during January 2024. The decline in agricultural activity has resulted in a decline in retail momentum. Wheat is currently the main crop due to cold weather. It is expected to have good yields in the entire Rabi season. In the coming months, demand for tractors will be supported by the government’s announcement of reasonable estimation of horticulture production and continued support to the rural sector. Our total sales in the foreign market have been up to 976 tractors.
John Deere: Sold 5454 tractors in January 2024, down from 6720 sold in the same month a year ago, which is 18.84% less than last year. Moreover, the market share of John Deere brand is showing a decline of 0.47%.
New Holland Tractors: 2105 tractors were sold in January 2024, which is 7.55% less than 2277 tractors sold in the same month a year ago. In contrast, the brand has seen a positive gain of 0.30% in market share.
TAFE Tractors: Compared to January 2023, when they sold 11375 tractors, TAFE’s domestic tractor sales declined by 16.90% to 9453 units in January 2024. Moreover, TAFE is witnessing a slight decline of 0.40% in market share.
Sonalika Tractors: In January 2024, Sonalika International sold 7158 tractors, which is a marginal decline from 7581 tractors sold in the same month last year. This is a decline of 5.58% in sales. Furthermore, the data indicates an increase of 1.28% in the brand’s market share.
Escort Tractors: With 5817 tractors sold in January 2024, Escorts had a 6.70% decline in tractor sales from 6235 tractors in January 2023. The company’s market share also increased by 0.92%.
Kubota: Sales of Kubota tractors in January 2024 are 965 units, which was 1612 units in January 2023, which is a significant decrease of 40.14%. During the same period, the company’s market share is showing a decline of 0.73%.
Preet Tractors: With 402 tractors sold in January 2024, Preet domestic tractor sales numbers have declined significantly by 5.85%. In January 2023, Preet sold 427 domestic tractor units. The research also shows a slight increase in market share of 0.07%. Sales of Kubota tractors in January 2024 were 965 unit.
Indo Farm: Domestic tractor sales for Indo Farm Tractors declined by 14.78% to 392 tractors in January 2024 from 460 in the same month last year. Despite not making any money or losing any money this month, the corporation has maintained its market share.
Captain Tractor: Captain Tractor sold 359 tractors in January 2024, a significant increase of 38.08% in sales as compared to January 2023 (when 260 tractors were sold). Furthermore, the brand’s market share increased by a negligible 0.25%.
VST Tractors: The VST domestic sales report for January 2024 shows 248 tractors sold, resulting in a 43.12% decline in sales compared to 436 tractors sold in January 2023. The market share of the brand also shows a decline of 0.22%.
ACE Tractors: Domestic ACE tractor sales were down 18.95% in January 2024, with just 231 tractors sold under the brand as compared to 285 tractors sold in January 2023. Additionally, the market share of ACE tractors declined by 0.02%.
SDF Tractors: Sold 33 units in January 2023 compared to 59 tractors in January 2024, a decline of 44.07% in domestic tractor sales. As a result, market share declined by 0.03%.
According to the national tractor sales data for January 2024, 55589 tractors were sold across all the states together, whereas 65353 tractors were sold in the same month last year. As a result, domestic tractor sales are seen declining by 14.94% in January 2024. Stay connected to Khetigaadi for additional tractor sales data updates.
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