December 2018 Tractor Industry Update – Khetigaadi, Tractor, Agriculture Marathi

December 2018 Tractor Industry Update – Khetigaadi, Tractor, Agriculture *Mahindra tractor sales decline 6% at 17,404 units in December – The company had sold-out 18,488 units in the year-ago month, Mahindra & Mahindra (M&M) said in a statement. Mahindra & Mahindra on Tuesday reported 6 % decline in its total tractor sales at 17,404 units in December 2018.The company had sold 18,488 units in the year-ago month, Mahindra & Mahindra (M&M) said in a statement. Domestic tractor sales were at 16,510 units last month as against 16,855 units in December 2017, down2%, it added. Exports were also down 45 percent last month at 894 units from 1,633 units in December 2017, the company said.… *Escorts reports 28% yoy growth in tractor sales in December – Escorts limited (Escorts), one of India’s leading agricultural equipment manufacturers, reported strong volume numbers in December 2018. It sold 4,598 tractors in December 2018. Total volumes for the month were higher 28% yoy and lower 43% mom. The company sold 4,212 tractors in the domestic market in December 2018, up 21% yoy and down 45% mom. Export volume was 386, up 197% yoy and 6 % mom. For the quarter (Q3FY19), The company sold 25,743 tractors, up 36% yoy and 22% qoq.… * Sonalika Tractors December sales surge 14% at 6,066 units – Sonalika International Tractors reported 14 per cent growth in total sales at 6,066 units for the month of December 2018. Home-grown tractor maker dispatched 5,321 in December 2017, as per a company release. The company recorded 26 per cent growth in exports by selling 1014 units and 11.9 per cent growth in domestic market at 5,052 tractor units during the month under review. In April-December 2018 period, the overall sales (Domestic + Exports) stood at 87,507 units in, up 20.8 per cent, compared to 72,438 units same period year ago. Speaking on the year end, Raman Mittal, executive director, Sonalika group, said, “The year 2018, was full of achievements, creating newer milestones, breaking records similarly as receiving accolades. we are extremely delighted with the overall company’s growth of 20.8 per cent on cumulative basis (April-Dec’18) with Exports registering robust growth of 36 per cent.” Commenting on the outlook for upcoming quarter (Q4) he further said “Consumer sentiments is anticipated to be positive owing to the government’s favorable pro-farmer policies and major structural reforms, as well as an anticipation of better Rabi crop yield. thus the business growth is expected to continue at the same pace and is expected to touch all time record high in this financial year. we will still surpass overall industry growth.”… * VST TILLERS TRACTORS VOLUME DIPS 46% IN DECEMBER – Total volumes for India’s largest power tiller manufacturer, VST Tillers Tractors limited (VSTTL), declined 46% yoy in December 2018.The volume was 29% lower compared to that in November 2018. It sold a total of 1,955 units in December 2018 against 3,615 units in December 2017 and 2,736 units in November 2018. VSTTL sold 1,353 power tillers in December 2018, down 55% yoy and 36 % mom. It sold 602 tractors in December 2018, down 1 % yoy and down 4%-mom.In terms of volumes in December 2018, VSTTL derived 69 %of the total volumes from power tillers and the remaining 31% from tractors. In revenue terms, in FY18, 51% was derived from power tillers, 40% from tractors and 9% from other segments such as rice transplantors, harvesters, etc. For the year till date (Apr-Dec’18) period, VSTTL sold 21,374 units against 27,805 units in Apr-Dec’17, implying 23% yoy decline.

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