Domestic Tractor Industry Sees Mixed Performance in March 2024: Brand Wise Details

The total domestic tractor sales for March 2024 amounted to 63,755 units, reflecting a 22.67% decline compared to the same period last year.

In March 2024, domestic tractor sales in India experienced a significant downturn, dropping by 22.67% compared to the same period last year. The total number of tractors sold in March 2024 stood at 63,755 units, a decrease from the 82,450 units sold in March 2023. Analyzing the performance of individual tractor manufacturers, it's evident that several brands faced a decline in sales.

Domestic Tractor Sales March 2024

Manufacturer	Mar’24	Mar’23	% Growth
M&M Group	24276	33622	-27.80
Tafe Group	10878	13674	-20.45
Sonalika	8682	10616	-18.22
Escorts	8054	9601	-16.11
John Deere	5523	5931	-6.88
New Holland	3062	3707	-17.40
Kubota	1301	2546	-48.90
Preet	462	697	-33.72
Indo Farm	412	621	-33.66
Captain	359	260	38.08
ACE	88	274	-67.88
VST	475	574	-17.25
SDF	60	86	-30.23
Total	63755	82450	-22.67

Manufacturer	MS Mar’24	MS Mar’23	MS YoY
M&M Group	38.08	40.78	-2.70
Tafe Group	17.06	16.58	0.48
Sonalika	13.62	12.88	0.74
Escorts	12.63	11.64	0.99
John Deere	8.66	7.19	1.47
New Holland	4.80	4.50	0.31
Kubota	2.04	3.09	-1.05
Preet	0.72	0.85	-0.12
Indo Farm	0.65	0.75	-0.11
Captain	0.76	0.61	0.15
ACE	0.14	0.33	-0.19
VST	0.75	0.70	-0.05
SDF	0.09	0.10	-0.01
Total	100.00	100.00

Also Read: Sonalika Leads Tractor Exports, Mahindra & Mahindra Eyes Global Expansion Amidst Domestic Tractor Sales Decline

Brandwise Details:

Mahindra & Mahindra Group (M&M) faced a 27.80% decline compared to March 2023, selling 24,276 units. Despite the drop, M&M maintained its market share at 38.08%.

Tafe Group also experienced a downturn with a 20.45% decrease, selling 10,878 units. However, its market share slightly increased to 17.06%.

Sonalika reported 8.22% fewer sales than the previous year, with 8,682 units sold. Nonetheless, its market share saw a marginal rise to 13.62%.

Escorts sold 8,054 units, marking a 16.11% decline from the previous year. Its market share increased to 12.63%.

John Deere witnessed a 6.88% decrease, selling 5,523 units. However, its market share grew to 8.66%.

New Holland experienced a sales decrease of 17.40%, selling 3,062 units. Its market share slightly increased to 4.80%.

Kubota faced the most significant decline at 48.90%, selling 1,301 units. Consequently, its market share decreased to 2.04%.

Captain experienced a modest decline of 3.79%, selling 482 units. Its market share increased to 0.76%.

VST saw a decrease of 17.25%, selling 475 units. Its market share slightly increased to 0.75%.

Preet witnessed a substantial decline of 33.72%, selling 462 units. Its market share decreased to 0.72%.

Indo Farm also faced a significant downturn, selling 412 units, marking a 33.66% decrease. Its market share decreased to 0.65%.

ACE experienced the most significant drop at 67.88%, selling 88 units. Its market share decreased to 0.14%.

SDF reported a decrease of 30.23%, selling 60 units. Its market share remained at 0.09%.

Overall, the total sales for March 2024 amounted to 63,755 units, reflecting a 22.67% decline compared to the same period last year. Despite the challenges, the tractor industry continues to navigate through market fluctuations, with manufacturers adapting strategies to maintain their positions in the competitive landscape.

Also Read: February 2024 Domestic Tractor Sales Report: Know The Brand-Wise Performance in Detail