Hit Or Decline: Tractor Domestic Wholesale Growth For The Month of July 2021?

Hit Or Decline: Tractor Domestic Wholesale Growth For The Month of July 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 July 2021 as compared to the previous year of the same month.

Though the country is facing a tough situation from the second wave of Covid 19, the tractor industry proves itself about its existence in the rise of the agriculture sector by selling more units of tractors during this year of the last month 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 July 2021, the company sold 25,769 units of the tractor while against 24,463 units in the last year of the same month.

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The company hit the sales in the domestic record not only on tractors but also on other commercial and passenger vehicles too. The market share has increased by 39.51% as compared to the previous year.

The sharp fall in Covid-19 cases and resultant easing of related restrictions, the arrival of timely monsoon, increase in MSP rates for key Kharif crops, and continued strong Government support to all agri activities is giving very strong momentum to tractor demand.

The company continues to remain optimistic about the progress of the monsoon and tractor demand in the coming months.”

Coming up with the next booming tractor industry TAFE that recorded the slight domestic wholesale fall by selling 11,112 units of tractors in July 2021 as against 11728 units in the last year of the same month.

The company however records -5.25% 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 major wholesale loss of -1.27 % that is the most efficient from the previous year. Though, the company also recorded a decline in the market share of 12.44%.

Sonalika tractors 8115 units were sold in July 2021 whereas, in the last year of the same period tractors were sold of 8,219 units.

The other famous tractor industry John Deere has marked a decline of -3.68%. The company sold 7,244 units of tractors in July ’21 while 7,521 units of tractors were sold in July ’20.

The company’s market share has also decreased by 11.11% from 11.91% as compared to the previous year of the same month.

New Holland tractor company broke the wholesale growth record by – 4.55% by selling 2,205 units of tractors in July ’21 while in July ’20 a total of 2,310 units of tractors were sold. While there is a decline of 3.38% in the market share in the last month as compared to the previous year of the same month.

Another leading company of India Escorts, headquartered in Faridabad, Haryana. Escorts recorded a growth of 22.25 % with those of 6055 units sold in July ’21 while selling 4953 units on July 20. The market share increased from 9.28 % compared to the previous year of the same month.

The other tractor brand Kubota gained a 38.12% profit. Also, the company recorded 1953 units of tractors in June ’21 while 1414 units were sold in July ’20. The company urges a growth in the market share by 2.99%

VST tractor brand industry records a sales decline of -13.90%. While the company sold 694 units of tractors in July ’21 with those of 806 units of tractors in July ’20. The company has gained its market share.

Talking about the most efficient tractor company Preet has also recorded the highest growth by 150.25% of tractor sales. The company also gained its market share by 0.77% in this year of July 21. Also, the company sold 503 units of tractors in July 2021 as compared to 201 units of tractors in the previous year of the same month.

Same Deutz Fahr shows the sales loss by -32.50% while selling 135 units of tractors in July 2021. Also, the market share of the company is 0.21%.

The Indo farm tractor industry boom by 42.60% of sales record. Also, the company urges a market share of 0.72%. The company recorded 472 units of tractors in July ’21 whereas 331 units of tractors were sold during the last year of the same month.

Captain Tractor industry also recorded a sales loss of -2.88% while selling 439 units of tractors in July’21. Also, the company records a market share of 0.67%.

Force Motors company also records a sales growth of 1.85%. While selling 331 units of tractors in July ’21. On the other hand, the market share of the company records0.51% that is equivalent to the previous year.

In the whole tractor brand industry, the ACE tractor industry has also marked a decline in the growth in sales of tractors by -11.21%. And, also the market share declined by 0.29%.

An overall tractor industry has gained the market growth sales except for few brands during the Month of July recording 3.29% 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 were a bit appropriate for some brands as compared to the previous year of the July month.

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