In the Indian market of the tractor industry in January 2021 around 78,345 tractors were sold and registered a 46% growth in YoY.
In FY2021 there have been large sales of tractors and the tractor sales expectations have gone ahead by the tractor industry. There are no issues being raised to meet the demand of the tractor also the supply of the tractors has been normalizing.
There are some reasons marked for the increase in sales of the tractors. These are easy finance availability, better monsoon season, increase in MSPs, and better market rates price.
It has been noticed that the rural areas were not impacted by the pandemic situation as compared to urban areas. The tractor market continues to be strong on the basis of macroeconomic factors.
Here is the list of brand-wise tractor sales growth for the January month of 2021 and the previous year’s same month 2020.
The world’s best-renowned company Mahindra and Mahindra Farm Equipment sector recorded 33,562 units of tractor sales in January 2021 while 22,329 units were recorded in the previous year of the same month. The market share increased to 43.06% in January 2021 from 41.82% in January 2020.
The second-largest tractor industry has also shown an impressive growth of 51.1% in YoY and the market share has also increased to 15.79% in January 2021 from 15.33% in January 2020.
Sonalika tractor company has also achieved a growth of 45% YoY. The market share is also increased to 10.41% in January 2021 from 10.46% the previous year of the same month.
It has recorded the sales of tractor units in January 2021 by 8,154 units as compared to 5,585 units in January 2020.
Talking for the best manufacturing tractor industry in terms of technology John Deere recorded 16% growth in YoY.
There are some companies that recorded in the growing sales of units but the market share reduced as compared to the previous year. Some of them are:
Captain tractor company records a decrease of tractor units in January 2021 by 403 units from 499 units in January 2020. Also, there is a reduction of 19% in the YoY growth rate of tractor sales.
The market share has also reduced to 0.51% in January 2021 v/s 0.93% in January 2020.
Well, the market share of ACE, SDF has also decreased from 0.26% in January 2021. With those increases in units of tractor growth.