On September 5, 2024, FADA released its retail tractor sales data, revealing that 65,478 tractors were sold in August 2024. This is a decline from the 73,892 units sold in August 2023. As a result, tractor sales in India fell by 11.39% in August 2024.
FADA Tractor Sales Report 2024: Brand-Wise Breakdown
Mahindra Tractors remains a market leader, with 16,183 units sold in August 2024. This represents a 9.74% decrease from the 17,929 units sold in August 2023. Despite this drop in sales, Mahindra’s market share slightly improved to 24.72% in August 2024, compared to 24.26% the previous year, indicating a marginal increase of 0.46% in their market presence.
Swaraj Tractors, a subsidiary of Mahindra & Mahindra, also saw a decline in sales, with 12,221 units sold in August 2024, down by 8.89% from 13,413 units in August 2023. Nevertheless, their market share grew to 18.66% from 18.15% in August 2023, reflecting a small gain of 0.51% in their market position.
International Tractors Limited showed a better performance relative to other brands, selling 8,495 units in August 2024, which is a slight increase of 0.44% compared to the 8,458 units sold in August 2023. Their market share rose to 12.97%, up from 11.45% the previous year, demonstrating a steady growth of 1.52%.
TAFE Limited experienced a significant decline in sales, dropping by 25.56%. They sold 7,119 units in August 2024, down from 9,564 units in August 2023, resulting in a reduced market share of 2.07% in August 2023.
Escorts Limited (Agri Machinery Group) also saw a notable decline of 21.04% in sales. In August 2024, the sold 5,869 units, as compared to 7,433 in August 2023. Their market share decreased by 1.10% in August 2023.
In contrast, John Deere India (Tractor Division) showed positive growth, with sales increasing by 8.43%. They sold 5,313 units in August 2024, up from 4,900 units in August 2023, and their market share improved to 1.48% in August 2023.
Eicher Tractors had a difficult month due to a 15.72% decline in sales.Compared to 4,962 units in August 2023, they sold 4,182 units in August 2024. Their market share slightly declined to 6.39% from 6.72% in August 2023.
Considering that its revenues increased by 7.01%, CNH Industrial (India) Pvt Ltd did not do too badly. As of August 2024, they had sold 2,550 units, up from 2,383 in August 2023. Their market share had increased to 3.89% from 3.22% in August 2023, indicating a 0.67% rise overall.
Kubota Agricultural Machinery India Pvt Ltd experienced a significant sales drop of 18.86%, with 1,222 units sold in August 2024, compared to 1,506 units in August 2023. Their market share dropped to 0.17%, just a slight decrease.
There was also a notable 30.50% drop in sales for other brands. They sold 2,324 units in August 2024, down from 3,344 units in August 2023. Their market share decreased from 4.53% to 3.55%, reflecting a drop of 0.98%.
In summary, while brands like John Deere India and International Tractors Limited saw growth in both sales and market share, most other manufacturers faced reductions in both areas. Overall, the market contracted, making August 2024 a challenging month for the tractor industry.
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