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Domestic Tractor Sales Sees Mixed Fortunes in September 2023, Promises Growth Ahead

In September 2023, Indian tractor manufacturers saw divergent performances. Some achieved impressive growth and market share expansion, while others faced challenges in maintaining their positions.

Domestic Tractor Sales See Mixed Fortunes in September 2023, Promises Growth Ahead
Domestic Tractor Sales See Mixed Fortunes in September 2023, Promises Growth Ahead

Some tractor manufacturers in India did better than others in September 2023. , Different tractor manufacturers experienced varying performance, with some showcasing remarkable growth and market share expansion, while others encountered difficulties preserving their market standings. This introduction offers a glimpse into the latest sales trends, laying the groundwork for a closer examination of the performance of India's top tractor brands in September 2023.

 

Manufacturer

September 2023

September 2022

% Growth

MS September 23

MS September’ 22

MS YoY

M&M Group

42034

47100

-10.76

43.37

41.62

1.76

TAFE

18244

20884

-12.64

18.82

18.45

0.37

Sonalika

13732

15030

-8.64

14.17

13.28

0.89

Escorts

10114

11384

-11.16

10.44

10.06

0.38

John Deere

6125

8898

-31.16

6.32

7.86

-1.54

New Holland

3767

4602

-18.14

3.89

4.07

-0.18

Kubota

1220

2418

-49.55

1.26

2.14

-0.88

Indo Farm

406

681

-40.38

0.42

0.60

-0.18

Preet

427

694

-38.47

0.44

0.61

-0.17

VST

269

568

-52.64

0.28

0.50

-0.22

Captain

301

527

-42.88

0.31

0.47

-0.16

ACE

210

278

-24.46

0.22

0.25

-0.03

SDF

67

115

-41.74

0.07

0.10

-0.03

Total

96916

113179

-14.37

100.00

100.00

 

Also Read:- Indian Auto Sales Jumped 20% in September, Except for Tractors

In September 2023, domestic tractor sales saw a 14.37% decrease from the previous year, with industry leaders selling 96,916 units compared to 113,179 units in 2022. 

 

Mahindra, a tractor market leader, saw a 10.76% sales dip in September 2023 compared to the previous year. Their market share increased by 1.76%. In September 2023, Mahindra sold 42,034 tractors, down from 47,100 units in September 2022.

 

New Holland saw a decline of 3,767 units in September 2023, compared to their sales of 4,602 units in September 2022. This resulted in an 18.14% drop in growth, with a 0.18% decrease in market share.

 

Kubota, a leading Japanese tractor manufacturer, faced a significant sales decline of 49.55%, selling 1,220 units in September 2023, down from 2,418 units in the same month in 2022. Despite the decrease, the company managed to boost its market share by 0.88%.

 

In September 2023, Preet Tractor, a Punjab-based company, saw a substantial sales decline. The Domestic Tractor Sales Report revealed they sold 427 tractors, marking a 38.47% decrease from the 694 units sold in September 2022. Additionally, the company's market share shrank by approximately 0.17%.

 

Also Read:- CNH Bolsters High-Tech Harvesting Portfolio with Investment in Advanced Farm Technologies

Indo Farm Tractor faced a tough year, much like its industry peers. In September 2023, they sold only 406 tractors, a significant 40.38% decrease from the 681 units sold in the previous year. Furthermore, their market share declined by nearly 0.18%.

 

As per the report, Captain Tractor's sales for September 2023 were 301 units, down from the 527 units sold in September 2022, indicating a significant 42.88% decrease. Additionally, despite the sales decline, their market share reduced by 0.16%.

 

In September 2023, VST Tillers and Tractors Ltd. reported sales of just 269 units, marking a substantial 52.64% drop from the 568 units sold in September 2022. Their market share also dipped by 0.22%.

 

Meanwhile, ACE Tractors saw a sales decrease of about 24.46%, with a 0.03% reduction in market share.

 

SDF Tractors, in September 2023, sold 67 units, a significant 41.74% decline from the 115 units sold in the previous year. Their market share also decreased by nearly 0.03%.

 

In a broader perspective, the domestic tractor sales data for September 2023 pointed towards a favorable trajectory of growth. This optimistic trend raises expectations for the potential of robust sales in the forthcoming season.

 

Also Read:- Sonalika Achieves Remarkable 15.8% Market Share in September 2023

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