More Than 9 Lakh Tractors Are Expected To Be Sold This Fiscal Year

More than 9 lakh tractors are expected to be sold this fiscal year. According to reports, tractor purchases in the domestic market have increased rapidly. According to data, 6.78 lakh tractors were sold in the country between April and November. At the same time, by the end of the current financial year 2022-23 viz. by March 2023, this figure can cross the level of 9 lakh tractors sold. According to experts, this is the first time they’ve seen this level of high sales in the Indian tractor market.

More than 9 lakh tractors are expected to be sold this year. According to reports, tractor purchases in the domestic market have increased rapidly. According to data, 6.78 lakh tractors were sold in the country between April and November. At the same time, by the end of the current financial year 2022-23 viz. by March 2023, this figure can cross the level of 9 lakh tractors sold. According to experts, this is the first time they’ve seen this level of high sales in the Indian tractor market.

With the increasing rates of farm mechanization, tractor brands keep on making technological advances in tractors to make them suitable per farmers' latest requirements. These ongoing advances and availability of cutting-edge features in the tractor boost the sales of tractor year after year. These advanced tractors make stressful farming work more efficient and easier for farmers. That, thus again leads to a significant increase in tractor sales.

If we look at the figures for tractor sales in the previous years, it is known that in the financial year 2010-11, the sales of tractors increased to 4.80 lakh units. Simultaneously, tractor sales increased to 8.99 lakh units during the fiscal year 2020-21. This figure is expected to rise further this year.

However, there are several reasons for the increase in tractor sales. According to policymakers, agricultural economists, trade specialists, and farmers, the rising value of sustaining oxen and bullocks, as well as the scarcity of low-cost farm labor in rural areas, are two reasons why farmers, even those with smaller landholdings, prefer to switch from bullocks to tractors.

In November 2022, the country's tractor industry sold 4158 more tractors than the previous year. Last November 2021, a total of 63,783 tractors were sold, while 67,941 tractors were sold this November 2022. According to the domestic tractor sales report for November 2022, top tractor brand manufacturers increased their sales. Domestic tractor sales increased by 6.52% in November 2022, which bodes well for the tractor industry. In light of this, it is expected that tractor sales will remain strong even in the final month of the year, December 2022.

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